Its distribution channels range from specialty and online retail to franchise stores and company-owned outlets.
Reflecting the general textile market trend, online sales are increasingly significant, shifting towards online marketplaces.
Vaude's total revenue for 2023 amounted to approximately €133 million, a decrease of 6.9%.
The company describes users of VAUDE products as "a community of open-minded and outdoor enthusiasts with a sense of responsible living."
In addition, VAUDE categorizes its customers based on activities such as:
- Trekking
- Hiking
- Mountaineering
- Ski touring
- Mountain biking
- Road cycling & gravel
- Bikepacking
- Everyday cycling
- Bike travel
- Urban leisure/lifestyle
- Outdoor kids
- Camping & travel
And based on values/attitudes:
- Nature-loving
- Responsible
- Sustainable lifestyle
VAUDE also sees significant overlap between its customer base and members of the German Alpine Club, as well as LOHAS (Lifestyle of Health and Sustainability) adherents.
Mountaineering is the most important segment.
Vaude is built on two pillars:
- "Outdoor Sports," the roots of the company, belong to the highest revenue-generating segment.
- Closely followed by "Bike Sports," which has developed very well in recent years and has caught up with Outdoor Sports.
Both segments have achieved significant growth rates in recent years.
Clothing accounts for the largest share of revenue among the main product categories, at 67 percent, and has grown above average in recent years. This share exceeds the EU average for clothing in the outdoor market, which according to EOG data from 2021, was around 50 percent.
Backpacks follow as the second largest revenue share at 25 percent. This is also significantly above the EU average of eight percent. Backpacks are evenly represented in the Bike Sports and Outdoor Sports categories.
VAUDE is still perceived as a "backpack brand" in many countries due to its origins in backpack development and production.
The market segments of Outdoor Sports and Bike Sports show a similar balance between their shares of sales in both physical stores and online. One exception is the Urban Outdoor line within the Outdoor Sports segment, which is heavily distributed through leather goods retailers, particularly in Germany.
In the outdoor sports sector, alongside specialized outdoor retailers, sports retailers also play a significant role. There's a noticeable overlap in the product offerings from the outdoor and bike sectors among VAUDE products sold through these sports retailers, including clothing and backpacks.
Since 2018, there has been a notable increase in business with retailers specializing in sustainability. These retailers prioritize goods that are produced in an environmentally and socially responsible manner, often offering a diverse product range beyond just sports. The growing societal focus on sustainability presents further opportunities for growth in this market. VAUDE effectively meets the expectations and needs of this target group with its products and values. While currently accounting for around one percent of revenue, the share from these sustainability-focused retailers is steadily increasing and holds substantial potential for further expansion.
Sales are heavily concentrated, with 70% primarily coming from a small group of B2C customers (10%).
The global outdoor market is marked by fierce competition and significant consolidation in retail. The COVID-19 pandemic accelerated this trend, resulting in smaller and medium-sized customers being displaced by competitors or exiting the market.
This trend is mirrored in our customer base: Despite considerable growth in revenue and market share, and the rise of numerous online B2C customers, the absolute number of B2C customers has not increased over the past five years.
A relatively small number of customers therefore contribute significantly to VAUDE's revenue. A-tier customers make up approximately ten percent of our total customer base but generate 70 percent of our sales volume. This mirrors broader market trends, where medium-sized B2C customers continue to lose market share.
