Fashion retailer bonprix reports annual revenue of 1.52 billion euros
Bonprix concludes fiscal year 2023/24 with revenue of 1.52 billion euros, a 14 percent decline amid challenging macroeconomic conditions.
Fashion brand bonprix, an Otto Group subsidiary, generated 1.52 billion euros in revenue during the 2023/24 fiscal year, marking a 14 percent decline compared to the previous year's 1.76 billion euros. Management attributed the downturn to broad consumer restraint caused by inflation and geopolitical uncertainty, which hit international markets particularly hard.
In contrast to its international operations, the company’s core market in Germany performed relatively well, with revenue declining by only one percent. This result compares favorably to the broader German e-commerce sector for clothing, which saw a double-digit decline of 13.3 percent in 2023. Finance chief Kai Heck noted that the company focused on operational efficiency to mitigate the impact of reduced consumer spending.
Effective April 1, 2024, the company will undergo a leadership transition. Dr. Torben Hansen will take over as CEO, succeeding Dr. Richard Gottwald, who is retiring. The executive team was also strengthened earlier this year with the appointment of Matthias Wlaka as CTO. Wlaka is tasked with overseeing a major technological overhaul, including the transition to SAP S/4 and AWS, to enhance the company's digital infrastructure.