Gerry Weber decides to shut down its brick-and-mortar stores nationwide.
Spanish Firm Acquires Gerry Weber Brand, Plans to Close All Stores
The insolvent German fashion manufacturer Gerry Weber has announced it will close all its stores in Germany after the Spanish fashion company Victrix agreed to acquire its brand. The acquisition, which includes some of the brand's designers, is slated for late May 2025.
Victrix Group, the family-run business behind the fashion brand Punt Roma, is planning to relaunch Gerry Weber women's fashion in Germany via trading partners with other brands, according to the news. The approximately 40 shops and outlets in Germany, as well as stores in other countries, will be closed in the coming months.
German fashion retail has been struggling, with companies such as Galeria, Esprit, Sinn, and Scotch & Soda filing for insolvency due to a weak consumer climate and increased costs, including energy, rent, and wages. The stationary textile and fashion retail sector, including Gerry Weber, suffered heavy losses during the coronavirus pandemic. Although business recovery has been noted, it has not returned to its pre-pandemic levels.
Gerry Weber, founded in 1973 as Hatex KG in Halle/Westphalia, has faced financial difficulties for several years. The company filed for insolvency for the third time in recent years in March 2023. Despite drastic cuts - 122 of its 171 own stores and outlets in Germany were closed, and around 450 jobs were cut in 2023 - the brand's fortunes failed to improve, leading to the acquisition by Victrix Group.
The financial details of the agreement have been kept confidential. The acquisition marks a strategic repositioning by Victrix, reflecting their intent to restructure Gerry Weber's retail footprint, focusing on markets where growth opportunities may be more promising or where the brand can be relaunched more effectively.
Sources: ntv.de, chr/dpa
- Gerry Weber
- Insolvency
- Fashion
Enrichment Data Relevance:
- The data suggests that Victrix Group aims to maintain creative continuity and potentially revitalize the Gerry Weber brand. This information might be of interest to readers concerned about the future direction of the brand under its new ownership.
- The data shows that Gerry Weber's stores are being closed in Germany but will be relaunched in select markets, such as the Netherlands. This information provides insight into Victrix's strategy for the Gerry Weber brand moving forward.
The acquisition of the Gerry Weber brand by Victrix Group indicates a strategic shift in focus, as they aim to revitalize the brand while maintaining creative continuity. In line with this plan, they may offer vocational training for fashion design to preserve the brand's legacy.
In an effort to restructure Gerry Weber's business, Victrix Group might consider altering their financial strategies to accommodate a lifestyle-focused approach, including expanding into fashion-and-beauty sectors and fostering partnerships with other brands for potential business growth.
