FNG targets Germany and Spain

FNG targets Germany and Spain

Fashion group FNG has become a household name in the Benelux, which is why it is also looking at other markets. CEO Dieter Penninckx sees opportunities for its Dutch brands in Germany, but Spain is more interesting for its Belgian brands.

German acquisition

Claudia Sträter already has a store in Germany, but FNG thinks Expresso and Miss Etam could also thrive in the country. Belgian CKS is already available in Spain, including its own store in Barcelona.


In order to speed up that foreign expansion, Penninckx is even considering a German acquisition. “The majority of sales start online, but often end up in stores. We should not just simply sell things on Otto.de and Zalando, because then one also needs a store network. We are rather modest, but if you acquire something in Germany, you target about a hundred stores”, he told FD.


Possible acquisitions in Benelux as well

The company may still acquire additional companies in the Benelux. “We may still acquire one or two companies in the Benelux”, Penninckx said. “We are large and diverse enough in the Benelux to actively manage our portfolio, which means we can exchange stores, logistics, IT and knowledge. More brands in the fashion industry could result in more of the same.”


FNG tackles every acquisition in the same way: a struggling brand is upscaled thanks to a better image, but its organization is simplified and its profits maximized. “You would get a headache knowing how Miss Etam was structured. An enormous organization, plenty of layers and completely bloated. It had 300 people in its main office, which have now been brought back to below 100. We manage every company as if they were separate SME’s.”

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Zooplus grows 20 % in third quarter


Animal web shop Zooplus’ third quarter turnover grew 22 % to 277 million euro, continuing the solid growth from its first quarters.

Small growth for Metro in 2016/2017


Metro’s preliminary results show that the German retailer has achieved a 1.6 % growth in its 2016/2017 fiscal year. Even on a like-for-like basis, there was still a slight growth: Metro itself considers it to be a successful year.

Action opens 1,000th store


Tomorrow is a special day for Dutch discounter Action, as it will open its 1,000th store in Gorinchem (in the Netherlands). The number of Action stores has almost doubled in the last two years.

Zalando ventures into make-up with physical store


Fashion web shop Zalando is to start selling beauty products in Germany and in order to better present those products, it will open a physical beauty store in Berlin. Last quarter, Zalando came close to a 30 % turnover growth.

Amazon prepares own sports clothing collection


Amazon is allegedly planning its own collections of sports clothing, having contacted manufacturers working for chains like Gap and Uniqlo. These are currently only producing small numbers of clothing for testing purposes.

H&M invests in old clothing recycling


Swedish H&M has acquired a minority stake in Re:newcell, which targets the recycling of old clothing in order to ensure a more sustainable fashion industry.

Back to top