Adler Modemärkte AG: ADLER Acquires Rights to Steilmann Brand
Press Release from Adler Modemärkte AG
Strong-Selling Product Range Retained: ADLER Acquires Rights to Steilmann Brand Integration as Own Brand Increases Profitability
Haibach (near Aschaffenburg), 17 November 2016: Adler Modemärkte AG will market merchandise previously sold under the "Steilmann" brand as an own brand. The Company came to an agreement with the Steilmann Group's insolvency administrator, Dr Frank Kebekus, on the transfer of the trademark rights. The parties agreed to keep confidential the exact terms and conditions of the underlying purchase agreement. In financial year 2015, ADLER generated approximately EUR18 million in gross revenue from the Steilmann brand.
Lothar Schäfer, CEO of Adler Modemärkte AG, views the purchase of the trademark rights as having many advantages: In addition to continuing to sell the Steilmann product range, which is highly popular with ADLER's customers, on existing and established sales floors, he believes that the deal will provide additional opportunities for improving revenue and profitability. "Directly purchasing merchandise going forward will allow us to cut out the middle-man and realise significant savings potential. This, in turn, will significantly improve the margins on Steilmann products, while sales prices remain attractive for our customers. True to the motto of the company's founder Klaus Steilmann: "Fashion for millions - not for millionaires"! "
About Adler Modemärkte: Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany's largest and most important textile retailers. In 2015, the Group generated revenue of EUR566.1 million with a workforce of around 4,200, generating EUR33.3 million in EBITDA. ADLER currently operates 180 stores, 154 of which are located in Germany, 22 in Austria, two in Luxembourg, two 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. For more information: www.adlermode-unternehmen.com; www.adlermode.com
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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: firstname.lastname@example.org 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, Tradegate Exchange End of News DGAP News Service