Hummel has set itself big goals for the next four years and wants to increase its annual sales by more than 500 million euros.
The Danish sportswear retailer, which, in addition to the main brand Hummel, also includes the running brand Newline and the lifestyle brand Halo, plans to achieve annual sales of four billion Danish crowns (around 536 million euros) by 2028, explains Hummels Group CEO Lars Stentebjerg in an interview with FashionUnited. Profit before taxes is expected to increase to 330 million Danish kroner during this period.
These are optimistic goals when you consider that after two years with losses of around 100 million Danish crowns (around 13.4 million euros), Hummel will be out of the red for the first time in 2024, at least according to the management’s forecast.
In addition to economic planning, the number of amateur teams is to be increased from 3,000 to 10,000 and customer club memberships to two million by 2028.