Olymp sales increase slightly amid “increasing global crises"

Olymp revenue in the 2023 financial year increased slightly to 229 million euros compared to 227 million euros in 2022.

The company said in a release that it managed to increase sales despite “increasing global crises, wars and dwindling purchasing power inhibiting consumer confidence”.

The company added that the fashion market was also characterised by “insolvencies, shop closures and cost increases”.

Commenting on the annual trading update, Mark Bezner, owner and CEO of Olymp Bezner KG, said: “We’re making tentative, but determined progress towards our stated goal of matching our pre-pandemic figures. In the face of extremely adverse circumstances, we’ve performed reasonably well compared to the rest of the industry and recorded a slight increase in sales.”

Olymp is catering to the changing needs of its customers with its Olymp 24/Seven business shirts, which are as comfortable to wear as t-shirts, Casual Concept, a smart collection of contemporary fit for casual shirts, jumpers, polo shirts, sweatshirts and t-shirts.

The company further said that over 80 percent of all Olymp products bear the “Green Choice” sustainability label, which is based on independent standards and confirms the use of more sustainable raw materials and environmentally friendly production methods in an authoritative fashion. By 2025, 100 percent of the brand products will be labelled this way.

“2024 will be another brutal year, full of challenges for the fashion industry. We can also expect a further market shakeout on both the manufacturing and retail side. For this reason, we’ll need to continue rolling up our sleeves so that we can fully utilise our market potential and achieve the growth targets we’re aiming for. Nevertheless, we do want to achieve at least a mid-single-digit increase in sales this year,” added Mark Bezner.

The largest Olymp brand store opened in November 2023 in the Westfield Centro shopping centre in Oberhausen, North Rhine-Westphalia, features 150 square metres of retail space. The company currently operates 56 stores in Germany and Austria.