Belgian fashion group FNG continues its impressive growth despite a struggling market. The owner of chains like Brantano and Miss Etam saw both turnover and profit go up in the first six months of this year.
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FNG, known from Brantano and Miss Etam, is taking over the Swedish Ellos Group, a leading e-commerce player in fashion and interior decoration. A sum of 229 million euros is involved.
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Retailers often make their omnichannel models needlessly complicated and expensive. The problem is they start from the wrong assumptions. In his newest book, retail professor Gino Van Ossel makes a case for pragmatism.
Belgian shoe store chain Brantano has opened its first two 'boutik by brantano' stores, in a bid to develop into a more premium brand. The chain wants to create experience stores and expand into clothing as well.
Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.
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.
Government investment fund Participatiemaatschappij Vlaanderen (PMV) will invest 15 million euro in fashion group FNG in return for 5 % of its shares. The money will go towards international expansion.
Dutch fashion company R&S Retail Group, which owns Miss Etam, has tabled a bid for Belgian FNG (Fred & Ginger and several other brands). The Belgian company would remain in control, even if it were acquired.