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Hunkemöller reveals major expansion plans for Germany
The Dutch lingerie brand plans to open up to 300 new stores in Germany by the end of 2019, almost doubling its total number of stores in the German market.
60 new stores are set to be opened this year, followed by 80 more in 2018. By the end of 2019, the company aims to grow its physical presence in Germany to over 500 stores.
“We see vast potential for growth in Germany, and are therefore focusing strongly on the German market with the expansion of our store portfolio,” said Philip Mountford, managing director of Hunkemöller.
In addition to Hunkemöller’s best-selling items, the new stores will stock the HKMX, Noir and Private collections, which means they will have be larger in size. To this end, the Dutch company is looking for new locations with 130 to 140 sq mts of retail space in large and mid-sized cities, and in shopping centres.
Depending on their size, the new stores will feature a social media wall, a body scanner and other initiatives to enhance the customer experience.
“A new consumer research report shows that the store and marketing concept tailored to our segment is working well. Both our ‘sheroes’ and customers are enthusiastic and enjoy the additional services provided by Hunkemöller,” said Mountford about a customer survey.
The Dutch company, founded in 1886, has now more than 800 stores in 25 countries, including the Middle East and selected Latin American countries. The company, owned by the Carlyle Group since the beginning of 2016, expanded into Russia in March last year.
Hunkemöller has been operating in the German market since 1987, where it has now 320 stores nationwide. Despite challenging market conditions, the company increased revenues to 440 million euros in 2015.
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