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In the German fashion trade, another store is dying. 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.
Severe criticism of the state of mind
Anders Kristiansen, the new boss of Esprit, wants to save money. "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 percent of the world's non-branch workers are expected to leave, he said.
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. Esprit currently employs more than 10,000 people worldwide and Gerry Weber employs nearly 7,000 people.
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