The acquisition of Konen Bekleidungshaus will expand Breuninger’s current presence from 11 stores to 13 stores, including Konen in Munich and Bram in Luxembourg, the latter marking the company’s first international brick and mortar store, the two companies said in a joint press release.
Konen operates two high-end clothing and accessories stores. In addition to its main branch in Munich, which has a sales area of ââ12,500 square meters, the family company Konen also owns Bram in Luxembourg, with a sales area of ââ11,000 square meters. Konen has a total workforce of nearly 700 employees.
This expansion is part of Breuninger’s long-term growth strategy and its latest investment in an attractive retail business.
âMunich, as an international metropolis renowned for both culture and shopping, and Luxembourg, as an attractive destination outside of Germany, have long been on Breuninger’s radar. With its two stores centrally located in Munich and Luxembourg, Konen is a mature family business which for us is a matter of the heart and the perfect addition to our portfolio of physical stores. Together, we will systematically increase our national and international multi-channel offerings, âsaid Holger Blecker, CEO of Breuninger.
âIt was a deliberate decision on our part to sell our business to the best in the industry, and we are very happy with that decision. Like us, Breuninger is a firm believer in main street retail. On top of that, we have similar corporate cultures and embody comparable values ââto customers and employees. We are grateful that what we have achieved so far in the many years that we have successfully run our business is now continued and developed by Breuninger in the best possible way, âsaid Dr Gabriele Castegnaro, Managing Partner of Konen and member of the founder of the company. family.
The closing of the transaction is subject to customary conditions and subject to the approval of the competition authorities. Both parties have agreed to keep financial details confidential. The agreement has yet to be verified by the Federal Cartel Office.
Fibre2Fashion Information Office (KD)
Breuninger, a German fashion and lifestyle company, acquires Konen Bekleidungshaus, a long-established fashion company with stores in Munich and Luxembourg. A corresponding agreement was recently signed between the two companies. Breuninger’s decision underscores its optimistic outlook for brick and mortar retail and its commitment to its long-term strategy.