Footshop Group, which focuses on selling streetwear footwear and clothing, reported sales of CZK 650 million in the first eight months of this year. It increased slightly by 1.4 percent year-on-year. The group also posted an operating profit (Adjusted EBITDA) of CZK 12.4 million, compared to a loss of CZK 1.4 million last year, the company informed today. This year, it said it had to deal mainly with a drop in sales from its Footshop Releases platform, where it offers newly launched goods to the market.
“After adidas ended its cooperation with Kanye West and other brands do not have such popular products in our segment, we lost 20 million crowns in margin. We are actively working on a replacement. We are gradually gaining access to other brands and collections that could replace adidas Yeezy,” said Peter Hajducek, CEO and founder of the company.
Hajduček said part of this year’s profit was invested in opening a new brick-and-mortar store in Bratislava or launching a mobile app, the report said. “In the coming months we plan to open a flagship store in Warsaw and also a store for Queens in Prague. We are introducing our private label brand, with which we want to achieve sales of at least CZK 15 million in 2024. At the same time, we plan to add a new Active category to the website with a main focus on running and trail running,” Hajduček added. Queens Footshop bought rival platform Queens Footshop in 2021.
Source: Footshop Group and CTK
