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Adler Modemärkte AG: ADLER Launches New Online Shop

DGAP-News: Adler Modemärkte AG / Key word(s): Market launch Adler Modemärkte AG: ADLER Launches New Online Shop 06.10.2020 / 17:29 The issuer is solely responsible for the content of this announcement. Press Release from Adler Modemärkte AG

Dynamic E-Commerce Growth and 20% Increase in Online Sales Targeted for 2020

ADLER Launches New Online Shop
Adlermode.com Offers New Functionalities and Sleek, Customer-friendly Design

Haibach (near Aschaffenburg), 6 October 2020: Adler Modemärkte AG today unveils its new online shop. Aside from a sleek, appealing and user-friendly design, it also offers a host of new functionalities. This is a key step towards implementing the Company's new e-commerce strategy, which focuses on brisk expansion.

Ambitious targets to boost e-commerce business
One key element to Adler Modemärkte AG's growth strategy is to expand its e-commerce business. The new online shop, originally announced to go live in 2021, has been designed to better service the needs of customers and is set to launch three months earlier than planned. This means it will be available to customers for the key Christmas business. The re-launch of the online shop also extends to the ADLER app, which now also offers new functionalities.

"ADLER's growth strategy is based on its established business in physical stores, as well as increasingly on its online business. The coronavirus crisis has highlighted the need for this," said Carmine Petraglia, CCO at Adler Modemärkte AG. "Our new, state-of-the-art online shop fulfils our promise to customers, creating a seamless link between in-store and online trading to offer our target group the best shopping experience across all channels."

ADLER's original goal was to lift online revenue above the €30 million mark by 2023. With the publication of the half-yearly results for 2020, the targets for online trading were revised significantly upwards. ADLER is also counting on its roughly 9 million customer loyalty cardholders to help it achieve this target.

Dynamic growth in online trading - ADLER targets growth in excess of 20% in 2020
ADLER's online retail activities saw extremely dynamic expansion in the first half of 2020, generating above-average year-on-year growth of nearly 20%. ADLER was thus well above the growth trend for online retail in Germany overall, which was 9.2% in the first half of the year according to a study by the Bundesverband E-Commerce und Versandhandel e.V. (bevh), Germany's association for e-commerce and mail order business. In fact, the "clothing and footwear" merchandise group grew by only 6.4%, according to the bevh. The growth trend for the online business is set to persist in the second half of the year. ADLER is targeting growth in excess of 20% for the year overall.