German fashion company Breuninger acquires Konen Bekleidungshaus

The acquisition of Konen Bekleidungshaus will expand Breuninger’s current presence of 11 stores to 13 stores including Konen in Munich and Bram in Luxembourg, with the latter marking the company’s first international bricks-and-mortar store, the two companies said in a joint press release.

Konen operates two stores of high-end clothing and accessories. In addition to its main branch in Munich, which has a sales area of 12,500 square metres, family-run Konen also owns Bram in Luxembourg, with a sales area of 11,000 square metres. Konen has a total workforce of almost 700 employees.

This expansion is part of Breuninger’s long-term growth strategy and its latest investment in attractive bricks-and-mortar retail.

“Munich, as an international metropolis renowned for both culture and shopping, and Luxemburg, as an attractive destination outside Germany, have long been on Breuninger’s radar. With its two stores at central locations in Munich and Luxembourg, Konen is a mature family-owned business that, for us, is a matter of the heart and the perfect addition to our portfolio of bricks-and-mortar stores. Together, we will systematically ramp up our national and international multichannel offerings,” said Holger Blecker, CEO of Breuninger.

“It was a deliberate decision on our part to sell our company to the best in the industry, and we are very pleased with this move. Like us, Breuninger is a firm believer in main street retail. In addition to that, we have similar company cultures and embody comparable values in relation to customers and employees. We are grateful that what we have achieved so far during the many years of successfully leading our business will now be continued and evolved by Breuninger in the best possible way,” said Dr Gabriele Castegnaro, managing partner of Konen and a member of the company’s founding family.

Closing of the transaction is subject to the customary conditions and contingent upon approval by the antitrust authorities. Both parties have agreed to keep the financial details confidential. The agreement is yet to be checked by the Federal Cartel Office.

ALCHEMPro News Desk (KD)