Department store group – What the deal means Kaufhof – Süddeutsche.de

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2.825 billion euros is paid by the trading group Hudson’s Bay for a department store, which many times the From foretold. For parent company Metro which is nice, but is it also good for Kaufhof?

comment from Caspar Busse

It was a comfortable situation for Olaf Koch, the CEO of the Düsseldorf trading group Metro. Two interested parties wanted the department store Kaufhof acquire daughter recently and so drove the price up. Now the award went to Hudson’s Bay, the retail group from Canada. Metro gets 2.825 billion euros for the traditional company, whose origins go back to the year 1879 – a steep price, especially when you consider that the department store old-style often secure from foretold

department store group Kaufhof goes for 2.8 billion euros at Hudson’s Bay

The Canadian trading group Hudson’s Bay has made the race for Kaufhof. The Metro subsidiary is sold for 2.8 billion euros.

What is beautiful for Metro, is not necessarily good for Kaufhof be with its about 21 000 employees in 135 stores. Although Metro chef and his colleagues tirelessly stressed it go at selling not just about a good price, but also to a “sustainable approach”. The manager of Hudson’s Bay have yet to prove that the company is really the right owner for Kaufhof.

Hudson’s Bay enters a difficult market

The Canadians operate in North America more than 300 shops , to recently joined the American luxury chain Saks Fifth Avenue. The company, in possession of a financial investor, now wants to expand outside of Canada and the United States, the purchase of Kaufhof is the first step. This is also the problem: Because Canadians know the German retail sector barely. Here this is considered one of the most difficult ever

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German consumers are

especially, they both pay the price as well as quality, the competition is fierce. Concepts that have success abroad, fail in this country. So once had to Walmart, the largest retail group in the world, blowing off its expansion in Germany after severe setbacks again, the Americans withdrew. A similar fate befell the British Andrew Jennings. Uid-1-2505830 unsuccessfully

acquisition of Kaufhof With luxurious back to success

competition for René Benko: The retailer Hudson’s Bay is in the race for Kaufhof before boarding. Canadians already have a concept of how they could align the German department stores in the future.

The real treasure of the Kaufhof deal is anyway another: Nearly half of all Kaufhof properties are sold with – and which are usually in a prime downtown location. The purchase Canadians now – let’s see what they make of it

What needs to change in the future

Looking up now Austrian Rene Benko, owner of Karstadt had also. great interest in Kaufhof. The considerations are now idle if Benko might have been the better acquirer. The Austrians would Karstadt and Kaufhof closed to a German department store AG. Although extensive location and employment guarantees have been given, it might have reached store closures -. Not a good scenario

In any case, the question arises whether the department store of the old school with the all-under-one-roof concept has any future at all. The e-commerce grows, customers order more and more things on the net and check email. Visit once a business, it often goes to the shopping experience to specialized advice to a special range. Will pass the department store, it has to change – with a different strategy and investment. That is the task that has to deal with Hudson’s Bay now

René Benko a majority stake Oberpollinger, Alsterhaus and Kadewe sold

You are the Luxury department stores of Karstadt Group. Now sold the majority owner René Benko them to the Italian group La Rinascente.