French-based sports retailer Decathlon said today that it achieved a robust economic performance last year, as the company looks to build on last month’s rebrand and to make more noise about its position as the world’s third largest sports retailer.
In 2023, Decathlon saw revenue increase by 4.4% compared with 2022 at a constant exchange rate. Adjusted for exchange rates and the impact of the closure of Decathlon’s commercial activities in Russia, revenues rose by 1.15%, at $16.9 billion.
Digital sales accounted for 17.4% of the group’s revenue, up 7bps from 2022, while the group’s net result hit just over $1 billion.
Last month, Decathlon revealed its new purpose, to ‘Move People Through the Wonders of Sport’, and the strategy behind its new ambition to “bring innovative and sustainable sports to everyone”.
These changes have been designed to help it take on major brands such as Nike
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Decathlon added of its new strategy: “Anchored to this purpose, the ambitious global strategy encompasses an enhanced and immersive customer experience, a strong commitment to sustainability and an overall modernisation of the company.”
The retailer unveiled a new brand identity, which includes ‘the Orbit’ icon, which it said expressed “movement, the ambition to reach new heights, and circularity”.
Decathlon Brand Revamp
As part of the process, Decathlon is simplifying its brand portfolio to nine category specialists: Quecha for mountain; Tribord for water and wind; Rockrider for outdoor cycling; Domyos for fitness; Kuikma for racquet sports; Kipsta for team sports; Caperlan for wildlife; Btwin for urban gliding and mobility; and Inesis for target.
The retailer’s website will also get a refresh worldwide to provide customers with a more seamless shopping experience, the company said.
As part of the overhaul, more than 1,700 of its global stores will be refurbished to offer customers “intuitive navigation, increased product visibility and engaging physical and digital displays, and an aesthetically pleasing atmosphere”.
And the company has been keen to promote its performance amid global disruption and the closure of its Russian business.
“In 2023, businesses around the world operated within unprecedented circumstances. At Decathlon, we chose to use this moment to act and to transform. We laid many foundations for the future and I am pleased with the result that we achieved. This is a testament to the dedication and commitment of our teammates,” Barbara Martin Coppola, Chief Executive Officer of Decathlon said of the latest results.
“I’m very proud of the strong reduction in our CO2 emissions, while maintaining revenue growth. This is an absolute priority for Decathlon as part of our commitment to preserving our shared playground,” she added. “In 2024, with our new ambition and fresh brand launched, we have set Decathlon on a strong trajectory to build happier, healthier societies by ‘moving people through the wonders of sport.’”
Decathlon Promotes Circularity
The sport retailer, which has been pushing ahead with initiatives such as rental and the buy back of unwanted products, has also vowed to put sustainability at the center of its business model as it commits to becoming Net Zero by 2050.
Decathlon said that it is working with its industrial partners to decarbonize processes and pave the way for new business models based on circularity and increased product life cycles. Across the product range, Decathlon is increasing product lifespans and enabling customers to reuse, repair and recycle their products. For the second year in a row Decathlon decreased its absolute CO2 emissions by 10%, compared with a 2% reduction in 2022.
In addition, 39% of products sold benefited from an eco-designed approach (23% in 2022). Last year, circular sales accounted for $456 million, up 27% compared with 2022, the company said.
Decathlon has a presence across retail and manufacturing in 78 territories globally and has a workforce of nearly 101,000 staff.
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