German shoe chain Reno searches for investors

German shoe chain Reno searches for investors

Germany's second largest shoe chain, Reno, is looking for investors and fresh capital to compete with the onslaught of online sellers like Zalando.

Money required for acquisitions

Reno's owner, HR Group, has asked business bank Rothschild to look for a possible investor in order to enable possible acquisitions destined for growth. Former Metro board member Stefan Kaske and the Hamm family own 50 % of HR Group. About a year ago, HR Group tried to acquire its competitor Ludwig Görtz, but lost to investment fund Afinum. Since then, the company felt it could achieve growth mostly through acquisitions and that it needs money from eternal sources for that.

 

HR Group's search for funds is not a surprise at all, as the German shoe market has undergone sizeable changes ever since Zalando broke through in 2008. Plenty of smaller and middle-sized companies have had to shut down, leading to a drop in shoe stores across Germany from 5,400 to 4,500.

 

Belgian Erik Van Heuven was its international CEO and global COO from 2009 to 2013 and still advises the Hamm Holding. Under his supervision, Reno was named the Shoe Retailer of the year 2010 in Germany and he is also responsible for the wholesale expansion of Hamm International.

Questions or comments? Please feel free to contact the editors


Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Rewe uses chocolate pudding to see how little sugar is acceptable

18/01/2018

German supermarket chain Rewe has asked its customers how little sugar they can bear. It aims to lower its private label’s sugar levels, but the consumer will decide by how much.

Lidl dials down its American ambitions

18/01/2018

Lidl had hoped to have about a hundred stores in the United States by the summer, but will be forced to adjust its first-year goals. The German chain currently has 49 stores in the United States.

Carrefour looks back on difficult year

17/01/2018

Despite a fourth quarter improvement, French Carrefour has been through a very difficult year. Next week, CEO Alexandre Bompard is expected to set out new guidelines in order to give the retail giant's results a new push.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

AB InBev sells two German beers

17/01/2018

AB InBev has sold German beer brands Diebels and Hasseröder, alongside its breweries, to investment fund CKCF. The new owner wants to invest more in the two beer brands.

Back to top