DEICHMANN SE partners with AZADEA Group For International Expansion In The MENA

Shoe retailer enters into partnership with retail giant AZADEA Group on further development in the MENA region; first DEICHMANN franchise business opens in Dubai in 2019 Essen, 11 October 2018 - DEICHMANN SE is continuing its international growth on a new scale. The company plans to enter the market in the MENA region (Middle East & North Africa) in the next few years. In this spirit, the shoe retailer has entered into a long-term partnership with AZADEA Group. A premier lifestyle retail company that has been operating across the MENA for the past 40 years and currently operates over 50 leading international franchise concepts in fashion & accessories, food & beverage, home furnishings, sporting goods, multimedia, and beauty & cosmetics. The opening of the first store on the Arabian Peninsula under the DEICHMANN brand is scheduled for 2019 in Dubai. "We are aiming for further growth and keen to open up new markets. Having opened stores in France and Belgium last year, we are now represented in almost every country in Europe. So it is time for us to develop further growth markets," says Heinrich Deichmann, Chairman of the Board of Directors of DEICHMANN SE. "We believe that there is huge potential for our concept of 'high-quality fashion shoes at an affordable price' in this region." DEICHMANN SE is the largest shoe retailer in Europe and now present in 26 countries worldwide. In the 2017 financial year, the Group sold more than 176 million pairs of shoes internationally in around 4,000 stores and 36 online shops. DEICHMANN is striking a new path with the expansion now planned: for the first time in its more than 100-year history, the company will be working with a franchise partner. "In the AZADEA Group, we are pleased to have found a partner with many years of experience in using the franchise model and at the same time with proven expertise in the fashion sector as well as in the Arabian and North African regions. We see it as a major advantage to be entering a new region closely aligned with a local partner," says Heinrich Deichmann. "Together with our partner AZADEA Group, we first want to gain initial experience in the region, on which the timing of further developments will depend," he adds. “We are proud to announce our partnership with DEICHMANN and are excited about introducing an international shoe concept to the Middle East”. Stated Said G. Daher, Chief Executive Officer at AZADEA Group. He adds: “The addition of DEICHMANN SE to our portfolio comes to anchor once again our longstanding promise of continuously offering our customers nothing less than a great shopping experience for the whole family.”