French sporting goods retailer Decathlon Group has reported a revenue increase of 5.2% in 2024 at constant exchange rates compared to the previous year, propelled by the excitement surrounding the Paris 2024 Summer Olympics.
When adjusted for unfavourable currency fluctuations, the company’s revenue still saw a rise of 3.8% to €16.2bn ($17.5bn).
Digital transactions accounted for a fifth of Decathlon’s total revenue, encompassing online sales, marketplace operations and digitally enabled in-store purchases.
The retailer was responsible for designing and producing the official attire for 45,000 volunteers at the Summer Olympics. It sold 1.8 million licensed products during the year.
Decathlon also recorded a notable surge in store traffic, increasing 10% in France during the Olympics and 6.7% during the Paralympics.
For three consecutive years, the retailer has managed to grow its revenue while simultaneously reducing its carbon emissions, achieving a 13% reduction since 2021.
Almost half (48.5%) of items sold in its stores in 2024 were developed using eco-friendly design principles.
Decathlon also facilitated the sale of 1.35 million pre-owned products and conducted repairs on 3 million items through its extensive network of repair workshops.
The retailer reduced its single-use plastic packaging usage by more than 53.29% during the year, slashing the figure from 2,646 tonnes down to just 1,236t.
Decathlon has also solidified its dominance in rental services, capturing half of the market share in both Italy and Spain.
In August 2024, it committed €100m ($111m) over the coming five years in India to bolster its retail presence and enhance manufacturing capabilities.
A similar investment strategy is being deployed in Germany, where Decathlon plans to allocate up to €100m by 2027 to inaugurate new stores and refurbish existing ones.
“Decathlon sees 5.2% revenue growth in 2024” was originally created and published by Retail Insight Network, a GlobalData owned brand.
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