By
DPA
DPA
Translated by
Barbara Santamaria
Barbara Santamaria
Published
Aug 3, 2016
Aug 3, 2016
Germany’s Strenesse acquired by Maeg Holding
By
DPA
DPA
Translated by
Barbara Santamaria
Barbara Santamaria
Published
Aug 3, 2016
Aug 3, 2016
Collapsed German fashion chain Strenesse has been bought by Amsterdam-based holding Maeg, according to a statement released on Tuesday.
Chairman Gerd Strehle said in a press release that the acquisition lays a strong financial foundation for international growth and the creation of a consistent brand identity.
Maeg, a newly formed private investors group, has taken over the business and its 240 employees.
Strenesse filed for bankruptcy in 2014 and has been operating under self-administration since. According to the label, profitability has been “significantly improved” and orders for the Fall/Winter 2016 collection and summer ranges have increased noticeably.
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