Decathlon defies odds and achieves a ‘transformative’ year

Sportswear giant Decathlon has reported that 2023 was a ‘transformative year’, achieving a ‘robust' economic performance’ despite high inflation and a slowdown in consumer spending.

For the year ending 31 December 2023, Decathalon’s revenues grew 4.4% to €15.6 billion (£13.38 billion) on a constant currency basis and sales increased by 1.15% to €15.6 billion. Digital sales accounted for 17.4% of the group’s revenue, up 0.7% compared to the year prior.

This follows last month's announcement that Decathlon was rebranding and repositioning itself to take on major brands such as Nike, Adidas and Under Armour. Its goal is to be viewed as a retailer first and foremost, rather than simply a specialist manufacturer of sports equipment.

Barbara Martin Coppola, Chief Executive Officer of Decathlon, said: "In 2023, businesses around the world operated within unprecedented circumstances. At Decathlon, we used this moment to act and 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.

She continued, "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."

Late last year, Decathlon acquired Bergfreunde, an online specialist retailer for mountain sports, climbing, and outdoor equipment.

The "strategic partnership" was enacted by Decathlon to "strengthen [its' global outdoor offering with a recognised and valued premium pure-player".