signa retail

Joining the Online Retail Battle

ARCHIV - Passanten überqueren am 18.08.2014 in Düsseldorf (Nordrhein-Westfalen) zwischen einer Filiale von Kaufhof (l) und Karstadt die Straße. Der österreichische Investor und Karstadt-Eigentümer Benko will laut einem Bericht des «Handelsblatt» (Mittwoch) die Metro-Warenhaustochter Kaufhof übernehmen. Sein Unternehmen Signa Retail, die das operative Geschäft der Karstadt-Häuser bündele, habe bereits eine Offerte abgegeben, berichtete die Zeitung vorab. Sprecher von Metro in Düsseldorf und Signa Holding in Wien wollten den Bericht auf Anfrage nicht kommentieren. Foto: Matthias Balk/dpa +++(c) dpa - Bildfunk+++
Karstadt and Kaufhof are the two biggest department store chains in Germany.
  • Why it matters

    Why it matters

    Signa Retail is trying to stake its claim to the growing market for clothing outlet stores in Germany, both physical and digital.

  • Facts

    Facts

    • Signa Retail is the holding company of Austrian investor Rene Benko.
    • The company owns Karstadt, Karstadt Sports, the KaDeWe Group, online retailer Outfitter and a joint venture with Eataly.
    • Signa Retail’s acquisition of dress-for-less will save the online clothing outlet from insolvency.
  • Audio

    Audio

  • Pdf

The Austrian holding company Signa Retail has rescued online clothing discounter dress-for-less from insolvency and staked a claim in the growing market for outlet stores in Germany.

Signa, the owner of the German legacy department store Karstadt, reportedly acquired dress-for-less for a sum in the two-digit million range.

Dress-for-less will continue to operate independently under the leadership of Chief Executive Antonio Gonzalo at its headquarters in Kelsterbach. Most of the company’s 260 employees will keep their jobs.

With that, Signa Retail is taking the fight to rival Kaufhof, owned by the Canadian firm Hudson’s Bay. It marks the latest move in a battle for control of the online market between Germany’s two largest department store chains.

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