European photo buying group Ringfoto has a record year in 2023
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European imaging news site Foto-Contact reports the largest European buying group Ringfoto GmbH & Co. KG also sold more cameras, video products, lenses, video accessories, drones, and photo books in 2023, achieving record results, based on the group’s announcement at the start of this year’s roadshow. While the average price of cameras, according to GfK, rose again by almost 10 percent compared to the previous year, specialist retailers gained market share and recorded further growth, according to a press release. In addition, other important photo dealers, especially from the Netherlands, have joined the cooperation.
According to the report, in 2023, Ringfoto’s total sales increased by 4 percent to EUR 535.4 million compared to the previous year. At EUR 371.7 million, warehouse sales were 6.3 percent higher than in the previous year; There was a slight decrease in route sales (central regulation) of 0.8 percent to 163.7 million euros. Including the sales of the subsidiaries in Austria and the Netherlands, group sales reached a new record level of 631.6 million euros, 7.0 percent above the previous year.
Ringfoto explained growth was achieved in all relevant product ranges or that at least the previous year’s level was maintained. There were particularly significant increases in revenue for system cameras (plus 12.0 percent) and for video products (plus 26.0 percent).
The lens business was stable both in the overall market and at Ringfoto. Ringfoto’s own Voigländer brand developed particularly well here: In the manual fixed focal length sector, it even reached the top position a market share of 26 percent, according to GfK. The brand’s range now includes almost 100 lenses. For 2024, Ringfoto expects further significant sales growth, which could be 35.0 percent due to numerous new products.
As of Dec. 31, 2023, the Ringfoto Group had 1,028 members (previous year: 1,109) with 1,313 sales outlets. The number of shareholders was 323 (27 fewer than at the end of 2022).