Source: The Local
Heinrich Deichmann described changes taking place in China, which produces a large portion of shoes sold in the West, as “dramatic” and said consumers must get used to the idea of forking out more for their footwear.
But Deichmann said his company would sacrifice profits this year, which marks the company’s centenary, in order to keep prices steady.
Despite rising costs, Deichmann intends to make a grand entry into the Russian market. At least five stores are planned for Moscow and Saint Petersburg, where in some cases rents are said to be higher than in prime German locations.
Thank God I already bought for next couple of years.