Frankfurt, January 20, 2020 – A new growth concept for the off-price business sector: the multi-channel designer outlets “dress for less” and “Saks OFF 5th” are merging. Both companies belong to the SIGNA Group and are now combining their strengths.
This will result in a strong omnichannel off-price retailer with integrated company headquarters in Frankfurt am Main. In addition, the logistics will be aligned even more consistently with the special requirements of this business model and will be concentrated at the Dietzenbach location.
The future management team will consist of Jörg Hensen, Constanze Olschewsky and Hanneke van Meeteren.
The merger will make it possible to realise considerable synergy effects, particularly in IT and logistics, and will generate major growth potential in the outlet business.
Among other things, the off-price specialists are operating a flexible small-format concept in seven stores on rented spaces at Galeria Karstadt Kaufhof, which will be rolled out to five additional locations in 2020.
About SIGNA Retail
The SIGNA Retail Group combines the five independent trading platforms SIGNA Premium, SIGNA Department Store Group, SIGNA Home & Lifestyle, SIGNA Food & Restaurant Group as well as SIGNA Sports United, the leading sports e-commerce platform on the European continent, under one umbrella. Each of these platforms has a leading market position in its sector in the German and European retail market. In the German sports and luxury goods sector as well as in the department store sector, SIGNA Retail is already by far one of the largest retail companies in Germany and one of the top five in Europe. 320 locations in the best city centres and over 100 Internet shops in 20 countries contribute to the strong growth of the SIGNA Retail Group in Europe.