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ARQUES sells Austrian fashion chain Schöps

19
Aug '08
The Starnberg-based ARQUES Industries AG has sold its share in the Austrian fashion chain, Schöps, for a symbolic price. The buyer is the Austrian retail and real estate entrepreneurial family, Al-Wazzan.

Schöps is still in a difficult situation despite the repositioning in the low price segment. Most recently the situation even became worse due to the extremely competitive environment in the Austrian retail business. Conceptually the buyer will operate differently and will partially change over to a franchise system. Within the course of the transaction, the buyer has committed itself to significant investments in Schöps.

With this step, ARQUES is rigorously continuing the reassessment of its portfolio. Both successfully reorganised enterprises, as well as enterprises not able to attain their margin target, are to be sold.

The buyer successfully operates franchise stores and retail shops in the textile business in Austria (Street One, Tally Weijl, Esprit, Leder Company, Jeans Only etc).

ARQUES Industries AG


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