Gerry Weber's Future: Selling Off Stores, Pursuing New Opportunities
Fashion retailer Gerry Weber announces closures across all locations, including Munich.
The iconic German fashion brand, Gerry Weber, is shutting down all of its around 40 stores in Germany following its acquisition by the Spanish fashion retailer, Victrix. The immediate future of the online shop remains uncertain, with the decision left to the new owners.
Current Store Closures and Discounts
Employees in stores like the Olympiaeinkaufszentrum (OEZ) and Pasing have confirmed the closures, with some stock still being sold at discounts of up to 70 percent. Until late August, the Munich store located at Viktualienmarkt is expected to remain open.
The Origins of Gerry Weber
Founded in 1973 by Gerhard Weber and Udo Hardieck, Gerry Weber originally focused on the production and distribution of women's trousers. Now, after three insolvencies in six years, the brand is undergoing a major transformation[1].
Steffi Graf's Influence
Gerry Weber gained international fame through its sponsorship of the renowned tennis star, Steffi Graf, during her prime. The company even organized the largest German tennis tournament, the "Gerry Weber Open," and built the OWL Arena for the event[1].
The Road to Insolvency
The company's financial decline began in 2019, leading to three insolvencies in six years. Many branches have already closed, and employees have been let go. However, the provisional creditors' committee has now approved Victrix's takeover concept[1].
The Future of Gerry Weber
Rumors suggest that Victrix aims to sell Gerry Weber fashion through trading partners rather than maintaining standalone stores[2][3]. The brand might also expand into the Netherlands and Spain, signifying a strategic shift[4].
In the meantime, Victrix plans to revitalize the Gerry Weber brand by utilizing some of its designers and rights, though the specifics of these plans have not been disclosed[4]. The future of the Gerry Weber online shop also remains uncertain, with potential digital channels being considered as part of Victrix's overall strategy.
The new owners, Victrix, might sell Gerry Weber fashion through trading partners instead of maintaining standalone stores, suggesting a shift in the retail industry. The brand could potentially expand into the Netherlands and Spain, marking a strategic business move. The future of Gerry Weber's online shop is uncertain, with Victrix considering digital channels as part of their overall strategy in the online finance sector.
