The Hamm Reno Group, one of Germany and Europe's largest shoe groups, has been sold to a group of investors. Capiton, backed by Turkish Ziylan Group, will obtain the majority of shares.
“The sale has enabled us to set the points for the future of our company. With strong partners by our side, we can grow and hence respond to the structural changes in the industry, such as the fast-growing online trade and the changes in consumer behaviour patterns", Dr. Matthias Händle said. He is part of the management team that will maintain a minority stake in the Hamm Reno Group. "Overall the sale is a win for all sides. The approach we take to customers and business partners will continue to be marked by quality and reliability, "Dr. Händle added.
Turkish investor Ziylan will play an important part as it is largest shoe retailer in several areas, including Turkey, several Southeastern European countries and parts of Asia. With their forces combined, the group can obtain better purchase deals and share the rights for several brands.
Back in September 2015, Hamm Reno announced it was looking for investors, stating the funds would be used to compete with major online players, like Zalando.