Adler Modemärkte AG
Adler Modemärkte AG: ADLER Sells Dillenburg Store to Steilmann-Boecker
Adler Modemärkte AG / Key word(s): Disposal Press Release from Adler Modemärkte AG ADLER Sells Dillenburg Store to Steilmann-Boecker Remaining Kressner Stores to Receive New ADLER ORANGE Logo Haibach (near Aschaffenburg), 2 March 2015. Adler Modemärkte AG – one of Germany’s largest textile retailers – has sold its Dillenburg store to Steilmann-Boecker Fashion Point GmbH & Co. KG effective 1 March 2015. ADLER took over the Dillenburg store in January 2015 after acquiring 100% of the shares in Bekleidungshaus Kressner GmbH & Co. KG. The employee service agreements transfer to the purchaser. The parties agreed to keep the purchase price confidential. The sale of the Dillenburg store and closure of the Kredenbach store announced for the end of the year 2015 mark the end of the optimisation process ADLER initiated for the portfolio of Kressner stores it acquired. The application for the process to rename Kressner GmbH & Co. KG to Adler Orange GmbH & Co. KG and to relocate the company headquarters from Wissen to Haibach, which included integrating the Kressner employees concerned at ADLER’s headquarters, is now also complete. “We have not planned any additional adjustments at the present time and are excited about operating the Kressner stores under the new ADLER ORANGE logo”, said ADLER CEO Lothar Schäfer. The purpose behind the ADLER ORANGE logo is to show customers that the stores now carry an expanded range of brands. An orange stripe in the logo will pay homage to the colour scheme used in the previous Kressner logo. At the same time, the ADLER affiliation will be instantly clear. The stores will be outfitted with the new logos when the stores are re-branded for the start of the next season in March. ADLER previously sold a total of three stores in Koblenz, Göttingen and Hagen to Steilmann-Boecker in 2011 and 2012. Steilmann-Boecker continues to successfully operate all of these stores. “The Dillenburg store is an excellent fit with the concept for our network of stores. It’s a perfect way to reach our target group and we’re very much looking forward to continuing the store’s success with its team of experienced employees”, said Massimo Giazzi, Managing Director of Steilmann-Boecker Fashion Point GmbH & Co. KG. About Steilmann-Boecker Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany’s largest and most important textile retailers. In 2013, the Group generated revenue of EUR528.6 million with a workforce of around 4,300, generating EUR42.9 million in EBITDA. ADLER currently operates 178 stores, 153 of which are located in Germany, 22 in Austria, two in Luxembourg, one in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess of 1,400 m2 of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product range. Thanks to more than 60 years of tradition and strong customer loyalty, ADLER considers itself to be the market leader within its target group of affluent customers aged 45 and over. Press enquiries: Investor Relations enquiries: 2015-03-02 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Adler Modemärkte AG | |
Industriestraße Ost 1-7 | ||
63808 Haibach | ||
Germany | ||
Phone: | +49 (0) 6021 633 0 | |
Fax: | +49 (0) 6021 633 1299 | |
E-mail: | info@adler.de | |
Internet: | www.adlermode.com | |
ISIN: | DE000A1H8MU2 | |
WKN: | A1H8MU | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart | |
End of News | DGAP News-Service |
328503 2015-03-02 |