“Good entertainment in Kaufhof” – something like this could in future be the salutation, when the employees their clients in the department stores under its new owner Hudson’s Bay welcome. Buy goods and wait until the customer is that for a long time no longer works.
But the Canadians want to go one step further. Their concept is based “on a customer experience like in the entertainment industry,” CEO Richard Baker said at the announcement of the acquisition of the former owner of Metro.
Whether the rise Blütenträume and benefit German city centers on whether department stores after long neglect are again Shopping magnets – that remains to be seen. One thing is certain, however, that the entry of Canadians will shape the department store sector for many years. Also in the future there will be with Kaufhof and Karstadt, the rivalry between two big chains. The idea of the “Deutsche Warenhaus AG” is now dead.
Kaufhof after models from the United States and Canada form
model of Galeria Kaufhof could in future the Canadian and US houses the new owner Make: bright, wide aisles, where only little, but selected goods is presented more of a showroom than a classic department store. Like dress, jacket or pants in a different color or size, it can be ordered on the spot or at home online.
delivery or later after a Cappuccino pick – these and many variations in between are freely selectable. Experts speak of omni, ie by the use of all sales channels. “Ominchannel is the key to success”, because the credo of the Hudson’s Bay management.
so you are unlikely to meet opposition. Whether the concept of Canadians but it works in detail is by no means certain. “Many foreign trade companies have attempted to transfer their ideas one on one to Germany. This often does not work,” said department store expert Bianca Casertano of the market monitoring firm Planet Retail.
grocers like Walmart and Carrefour, as well as textile chains such as Marks & amp; Spencer would have had this experience. But Casertano also noted positive counterexamples like the German houses of Galeries Lafayette. A department store experiment in the order of Galeria Kaufhof has here not yet given.
Hudson’s Bay pays good 2.8 billion euros for Kaufhof
The Hudson’s Bay Company (HBC) bought for EUR 2.83 billion 103 stores of Galeria Kaufhof, which claims to 59″ in a prime downtown location “as property. There are also 16 Sportarena stores and an additional 16 locations of Galeria Inno in Belgium. Germany is the future of the second largest market for HBC. Almost one third of Group sales of converted nine billion euros (13 billion Canadian dollars) omitted from now on the Federal Republic.
Jerry Storch, who at HBC operating controls business, wiped doubts about the success of the table. The Canadians had the German market for many years closely monitored and also looked at all Kaufhof stores, Storch said at the announcement of the acquisition in Cologne. The company, which now includes 464 branches in eight retail chains, have also shown in the home market that controlling his business. Revenue has grown in the last four years against a weak market by 20 percent.
For Germany, the Canadians announced an investment program, without of course on concrete figures. want to have set. The starting position was more favorable than for the Hudson’s Bay department because the Kaufhof business location is in a better condition. You wonder introduce Saks Fifth Avenue at selected Kaufhof sites in Germany, Storch said.
no warnings for new department stores
Although is not expected to the opening of new stores, HBC would instead expand its business in the existing branches. The Canadians, however, have given a guarantee for the survival of the department stores by its own account and also ruled out a reduction in personnel.
Both commitments are valid for three years. The trade union Ver.di is not enough. “The sale provides the chance that workers now get a clear perspective, after years of speculation about the future of the Kaufhof department store,” said Federal Board Member Stefanie Nutzenberger.
There but were “legally binding agreements to secure the locations of jobs, to preserve the collective bargaining coverage and maintaining the current business and co-determination structure essential”.
HBC gave Meanwhile on Monday a foretaste of a new management style: The approximately 21,500 Kaufhof employees will in future be directly involved in the company’s economic success. It is usual with HBC that employees receive stock options, said the head of international business, Don Watros, the “world”. The same applies to the Kaufhof.
Metro can now invest again
Metro CEO Olaf Koch presented the Deal as the long-awaited financial clearance for Metro. From the purchase price, which also contains a proportion debt assumption, the Düsseldorf group flow EUR 1.6 billion to new funds. Koch announced a reduction in the net debt of 2.7 billion euros.
The money will Metro now mainly in strengthening the wholesale and the electrical retail chains Media Markt and Saturn stuck that are considered core business. The currently unsaleable hypermarket chain Real could thus be brought more easily on a sustainable path. The Metro-investors responded anyway peeved: The share price collapsed by the afternoon a five percent and fell below 30 euros. The posted price was disappointing, tried a stockbroker a statement.
Karstadt owner Signa was equally disappointed. The historic opportunity to form a “Deutsche Warenhaus AG” had been squandered. Simultaneously Signa was ready to fight. Concentrate now on, “to bring extremely positive development forward” with his Karstadt.
However, many experts believe that the restructuring of the company with its 16,000 employees will be even more difficult now. Koch explained the decision for HBC with the fact that the three requirements – “a fair price, a crystal clear funding and a concept for the future with prospects for growth” – were easier to implement with HBC. Market observer Casertano said: “That was the right decision for Kaufhof, especially from the standpoint of sustainability.”
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