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In the hotly contested German fashion sector, another business is starting to appear. Distressed textile manufacturers Gerry Weber and Esprit want to reduce their store network, which has been built at a high cost in recent years, and reduce many jobs. This was confirmed by the CEOs in interviews with the industry magazine "Textilwirtschaft".
Johannes Ehling, the new director of Gerry Weber, said: "There will be a significant reduction in employment. (…) In addition, we will close several unprofitable stores." The Westphalian fashion company, which also includes the brands Typhoon, Samoon and Hallhuber, is struggling with declining sales and red numbers. In addition, high debts on the balance sheet. "We need to make more profit with less turnover and work more with fewer employees," said Ehling.
Spirit puts a red pencil
Anders Kristiansen, Esprit's new boss, wants to launch the red pencil. "We will close and reduce the size of our stores this year and next," he said. The company does not need the number of stores of the brand it currently owns. In addition, about 40% of the world's employees who do not work in the shops should leave, he said earlier.
Kristiansen severely criticized the state of mind: "The brand has lost its energy." She represents "for nothing" and is pbaded to the right and left of the competition. It will take years for the company to make a profit again, said the director. But enough money was available to finance the necessary conversion. As a result, Esprit will also survive the current reading process in the marketplace. "There is no room for us all, but I am convinced that Spirit is surviving," Kristiansen said.
Gerry Weber currently has 82 branches in Austria, according to the company's home page. According to its website, Esprit has 22 stores in Austria. The effects of this country have remained open for the moment.
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