Designer Brands, Inc. plans to focus on doubling the sales of their owned brands.
“We are seeing aggressive growth in the sales of our owned brands. In fact, one out of every four pairs of shoes that Designer Brands sold as an enterprise during 2021 was designed and sourced by our own team,” said Roger Rawlins, CEO of Designer Brands.
In a recent earnings report, the company had an all-time record-high fourth quarter, with sales of $822.6 million and a comparable sales increase of 36.9%. Reported net income was $14.4 million.
For the full year of 2021, Designer Brands’ net sales increased 43.0% to $3.2 billion, with comparable sales increased by 51.6%.
Designer Brands operates nearly 650 stores under the DSW Designer Shoe Warehouse and The Shoe Company banners. The company also designs and produces footwear and accessories through Camuto Group, a leading manufacturer selling in more than 5,400 stores worldwide.
“Looking forward, our growth strategy is centered around increasingly establishing ourselves as a builder and grower of brands, including our four major national brands, our premier quality exclusive brands and the rest of the top 50 brands in footwear,” said Rawlins.
Source: Designer Brands, Inc – Press Release
Photo Credit: DSW
