The Dutch Brenninkmeijer family is considering to sell clothing chain C&A, according to German magazine Der Spiegel. One option is to sell to Chinese buyers.
C&A did not confirm the news at the moment, but according to Der Spiegel, the deal has almost been finalized. The chain’s parent company, Cofra Holding, explains its vision from its main office in Switzerland: “C&A’s current restructuring plan entails that we explore the different ways we could penetrate growth markets like China or the digital world. This may also include possible collaborations or other, external participations.”
C&A, founded in 1841 by brothers Clemens and August Brenninkmeijer, currently has more than 1,500 stores across eighteen countries. Up until now, the Breninkmeijer family, one of the Netherlands’ richest families with an estimated 20 billion euro value, still is in firm charge of the C&A chain.
All in all, the chain employs more than 35,000 people and is currently undergoing a restructuring plan. A lot of stores are being remodeled or shut down. The transformation plan is necessary because the chain is facing increased competition from chains like H&M and Primark.