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Halle – The highly contested German fashion trade marks the beginning of another economic bankruptcy. 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 during interviews with the industry magazine "Textilwirtschaft".
Johannes Ehling, the new director of Gerry Weber, said: "There will be significant job cuts. (…) In addition, we will close many of our own unprofitable stores." The province's fashion company from Westphalia, which includes the brands Typhoon, Samoon and Hallhuber, fighting against sales declines 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.
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 harshly criticized the state of the Spirit: "The brand has lost its energy, it represents" nothing "and is overtaken by competition left and right.It will take years for the company to realize again a profit, said the director.But enough money was available to finance the necessary conversion.Therefore, Esprit will also survive the current reading process in the market. "There is no room for all of us, but I am convinced that Spirit survives, "said Kristiansen.
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. (APA / dpa)
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