Shoe chain Reno for sale | RetailDetail

Shoe chain Reno for sale

Shoe chain Reno for sale

The second largest German shoe chain, Reno, is allegedly for sale according to several inside sources. The family-owners have apparently asked investment bank Rothschild to look for interested parties.

Disappointing results

HR Group currently owns Reno, which also used to be part of the Metro Group. It is Germany's second largest shoe chain, trailing Deichmann, with a 650 million euro yearly turnover and 750 stores. The sale should take place after the summer, with other chains like Leiser and Goertz among the possible buyers. Investment firms may also lodge a bid.

 

The HR Group consists of Reno and leather company Hamm, which were merged in 2005, but Reno's disappointing results have now prompted a sale. Former Metro manager Siegfried Kaske owns 50 % of HR Group's shares, while the remaining 50 % is controlled by the Hamm family and several other investors.

Questions or comments? Please feel free to contact the editors


Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.

AB InBev joins forces with Efes in Russia

12/07/2018

In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.

Jumbo appoints new head of Belgian branch

11/07/2018

Dutch Jumbo Groep Holding has made a management reshuffle, with Peter Isaac becoming the new managing director of the group's Belgian branch. Bart van den Nieuwenhof meanwhile is set to leave the group's restaurant chain La Place.

Snacks boost Pepsico’s sales

10/07/2018

Snack and beverage giant Pepsico has recorded a slight revenue growth of 2.4 % in the second quarter of this year. Net profit however went 14 % lower, due to rising taxes.

Ahold Delhaize changes management in Greece and Romania

09/07/2018

Ahold Delhaize has announced two changes to its management team in Europe: Vassilis Stavrou becomes Brand President of Alfa Beta in Greece. He succeeds Leonidas Vrettakos, who is retiring after 21 years with the business.

Tesco and Carrefour to join forces

02/07/2018

Brexit or no Brexit, British Tesco and French Carrefour have joined forces for the purchases of both A-brand products and private labels. Service suppliers too will face a united front from now on.