- Intersport chief: expansion strategy is on
Intersport's Expansion Strategy is Going According to Plan, Says Germany CEO Alexander von Preen
So far, Intersport's expansion strategy is on track, according to Germany CEO Alexander von Preen. "We've already opened 14 new stores this fiscal year and are likely to reach a total of 18," he told Deutsche Presse-Agentur in Heilbronn. Intersport's fiscal year runs from early October to the end of September, like many retailers.
At Least 100 New Stores by 2030
Some entrepreneurs are starting fresh, while larger retailers in the group are opening new locations, von Preen said. By 2030, Intersport aims to open at least 100 new stores in Germany.
To achieve this goal, Intersport launched an entrepreneurship program last fall. "Finding entrepreneurs who are also passionate about being active in business, with all its challenges, has been more difficult than I thought," von Preen said. This is especially true when it comes to work-life balance.
Germany's Largest Sports Retail Group
Intersport claims to be Germany's largest sports retailer. As of the 2022/23 fiscal year, it had around 700 members with about 1,400 stores nationwide, with over 400 operating under the Intersport name. The group aims to increase its turnover from around 3.5 billion euros to approximately 6 billion euros by 2030, capturing a market share of over 30%.
Further Investments in Headquarters and Digitalization
This fiscal year, 20 stores have been completely renovated, and eight have been enlarged. So far, retailers have invested over 15 million euros in modernization, renovation, and new locations, with up to 10 million euros planned for the next fiscal year.
The group also plans to invest in its headquarters in Heilbronn, including expanding the logistics center and installing a new photovoltaic system, at a cost of up to 20 million euros. Another 15 million euros will be invested in digitalization, such as a new e-commerce platform.
Headwinds in the Current Fiscal Year
Von Preen was cautious about the current fiscal year's results: "The winter season was virtually non-existent. While we had a good performance during the European Football Championship, there was overall headwind in the market," he said. People's budgets are lower due to inflation, and many prefer to go on vacation instead of shopping in cities. The insolvencies of Tennis-Point and SportScheck also affected the group, although von Preen said they were able to compensate for it.
"We've seen a market-appropriate modest development so far, and our outlook for the full year remains modest. We're strongly dependent on external developments and general market and framework conditions," von Preen said. Despite this, the group grew against the market trend last year and plans to do so again next year.
Von Preen believes the group's long-term goals are not at risk: "We've grown significantly more than planned in the last two years, and we're planning growth for the next year as well. In the long run, it will even out."
Intersport's expansion strategy includes opening at least 100 new stores in Germany by 2030, making it an exciting time for sports enthusiasts in search of new retail locations. This growth in sports retail outlets underscores the enduring popularity of sports activities among the German population.
Intersport's continued success in sports retail is not just limited to physical stores; it also invests significantly in digitalization, with plans to roll out a new e-commerce platform and dedicate resources to improving its online presence.
