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Gerry Weber acquires bankrupt DON GIL Textilhandel
25
Nov '11
Takeover of lease rights from bankrupt “DON GIL” Textilhandel GmbH marks the next step in the ongoing international expansion of GERRY WEBER.

Up to this date, the Retail segment of GERRY WEBER has operated 23 own HOUSES OF GERRY WEBER in Austria. After the conclusion of the bidding procedure, Managing Director Thomas Kronefeld expressed his satisfaction: “We are extremely pleased that we have been successful in this process.

This will enable us to put our expansion plans in Austria into practice much faster than originally planned. All stores taken over are in prime locations, both in the city centres and in the shopping centres. The visibility of the additional locations will further increase the brandname awareness of GERRY WEBER”.

In the days ahead, the company will make a detailed analysis and fine-tuning to identify those locations that will be operated by GERRY WEBER and those that may be run by third parties. Most of the 29 stores, which have a combined space in excess of 12,000 square metres, will be operated by the company as HOUSES OF GERRY WEBER sell GERRY WEBER Collection, GERRY WEBER Edition, G.W., TAIFUN and SAMOON.

GERRY WEBER has not yet decided what to do with the trademark and name rights that were acquired in the process. Says Managing Director Ralf Weber: “If a third party is interested in the trademark rights, we might be willing to enter into negotiations.”

In spite of the difficult situation of DON GIL, the qualified employees of the company achieved a relatively high productivity of the DON GIL stores in the past. This confirms the experience gained by GERRY WEBER that Austria is a very profitable output market.

The takeover will further accelerate the expansion of GERRY WEBER's own Retail activities, which had already been stepped up significantly in the fiscal year that has just ended, when 64 new own stores were opened. Going forward, the Group will therefore be able to focus even more strongly on making inroads into new markets in Eastern Europe.

With the first company-run HOUSE OF GERRY WEBER just opened in Poland and more to follow before the end of the calendar year, the activities now focus on the Czech Republic and Slovakia. GERRY WEBER's excellent liquidity and equity position will enable the company to finance future acquisitions in the Retail segment from its own funds.

The takeover is subject to approval by the Austrian anti-trust authorities and the Austrian cartel office.

Gerry Weber International AG

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