The historical merger of Karstadt and Kaufhof enables the vision of the marketplace of the future, in the middle of all the relevant inner cities of Germany. Intelligently linked to successful digital platforms, a company is created that reaches 80 percent of the urban population in its immediate vicinity. Strengths that are unique – and will remain unique. While leading, pure online provi- ders are desperately looking for showcase space in prime locations, the joint venture with 243 established inner-city locations has created an excellent starting position. This is about nothing less than signifi- cantly helping to shape the future of city centres and inner-city trade as a whole. The new combined SIGNA and HBC company includes Kaufhof and Karstadt, as well as the enti- re retail business of HBC Europe, Karstadt Sports, and the food and catering departments of both com- panies. All e-commerce platforms will also be merged. The new Group employs a total of 32,000 people. Karstadt CEO and SIGNA Retail CEO Stephan Fanderl will head the group, and the CFO will be Karstadt CFO Miguel Müllenbach.
* The completion of the transaction is still subject to agreement from the relevant competition authority