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FORM10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year EndedFebruary 1, 2025or For the transition period from Commission file number1-32545 DESIGNER BRANDS INC. (Exact name of registrant as specified in its charter) 31-0746639 810 DSW Drive,Columbus,Ohio43219(Address of principal executive offices)(Zip Code)Registrant's telephone number, including area code:(614)237-7100 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐Yes☑No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.☐Yes☑No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.☑Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).☑Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smallerreporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐ Accelerated filer☑Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☑No The aggregate market value of the registrant's Class A common shares held by non-affiliates of the registrant as of August2, 2024, was$286,232,073. Number of shares outstanding of each of the registrant's classes of common stock, as of March17, 2025:40,242,472Class A commonshares and7,732,733Class B common shares. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's Definitive Proxy Statement on Schedule 14A for the 2025 Annual Meeting of Shareholders, whichstatement will be filed pursuant to Regulation 14A no later than 120 days after the end of the fiscal year covered by this report, areincorporated by reference into Part III of this Annual Report on Form 10-K. DESIGNER BRANDS INC.TABLE OF CONTENTS All references to "we," "us," "our," "Designer Brands," "Designer Brands Inc.," or the "Company" in this Annual Report on Form 10-Kfor the fiscal year ended February 1, 2025 (this "Form 10-K") mean Designer Brands Inc. and its subsidiaries. We own many trademarks and service marks. This Form 10-K may contain trademarks, trade dress, and tradenames of othercompanies. Use or display of other parties' trademarks, trade dress or trade names is not intended to and does not imply a relationshipwith the trademark, trade dress or trade name owner. We have included certain website addresses throughout this Form 10-K as inactive textual references only. The information containedon the websites referenced herein is not incorporated into this Form 10-K. Cautionary Statement Regarding Forward-Looking Information for Purposes of the "Safe Harbor" Provisions of the PrivateSecurities Litigation Reform Act of 1995 Certain statements in this Form 10-K may constitute forward-looking statements and are made pursuant to the safe harbor provisionsof the Private Securities Litigation Reform Act of