“Too small”
Scapino’s Belgian position is too small to be a successful discounter”, CEO Kurt Staelens said. “The fact that we can barely support the Belgian activities through our profitable Scapino Netherlands branch, is also partially the reason for the move. Scapino Netherlands will remain a part of Macintosh Retail Group.”
That is why the company has now decided to sell Scapino’s 24 Belgian shoe stores to DFM Participaties, which wants to use the stores to facilitate the expansion of its own discount label in Belgium.
Scapino will become The Fashion Market
“The purchase of these Belgian stores is an important step for us to launch a new discount formula called The Fashion Market for contemporary women’s, children’s and men’s clothing, shoes and accessories, both in Belgium and the Netherlands”, DFM Participaties’ Mark Rosman said. “The stores will be remodeled and have a young and contemporary feel to them. The first stores will open in October.”
Scapino Belgium employs 168 people, who will all be able to keep their jobs after the purchase. The deal will be finalized on 3 November 2014.
