Home / Knowledge / News / Apparel/Garments / Gerry Weber acquires bankrupt DON GIL Textilhandel
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

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search