13.05.2015
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG DE0005199905
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK acquires the men's fashion store chain WORMLAND
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Acquisition/Strategic Company Decision
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK
acquires the men's fashion store chain WORMLAND
13.05.2015 / 08:05
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Corporate News
LUDWIG BECK acquires the men's fashion store chain WORMLAND
* With the acquisition, LUDWIG BECK takes an important step forward in
expanding its market position in the field of men's fashion Germany-wide.
* WORMLAND offers the ideal expansion for generating a significant growth
potential for the group.
Munich, May 13, 2015 - The Munich fashion group LUDWIG BECK (ISIN DE
0005199905) yesterday announced the full acquisition of the Hanover-based
men's fashion store chain WORMLAND. The fashion company, which was founded
in 1935, is considered the "avant-gardist in men's fashion" in the German
retail sector, a genuine lifestyle brand offering a unique trading concept.
Germany-wide, the company is represented with 15 branches. In 2014, it
produced sales in the amount of approximately EUR 79.6m with a total of 465
employees on a sales area of 13,600 sqm.
Since the year 2000, the company has been managed by Oliver Beuthien whose
management will in the future be supported by Dieter Münch and Christian
Greiner, the two Executive Board members of LUDWIG BECK AG.
WORMLAND will continue to exist as an independent brand also under the
umbrella of LUDWIG BECK AG. With two concepts the corporate strategy
addresses two target groups. WORMLAND itself stands for stylish fashion for
the well-funded, fashion-conscious man who is served in branches
characterized by their top inner city locations with a size of 1,000 -
2,500 sqm each. The trading concept THEO focuses on jeans and casual wear
and addresses a younger target group, which is served in the THEO branches
on approximately 300 - 500 sqm each. Since the beginning of 2015, in
addition to the future-oriented brand spectrum available in its
brick-and-mortars stores, the company has offered a selection of trendy
styles also online.
The acquisition of this brand with a unique positioning in the German
retail sector considerably strengthens the market position of the LUDWIG
BECK group, and is based on strategic reasons. So far, LUDWIG BECK has
stood primarily for premium women's fashion and non-textile product ranges
like cosmetics and sound recordings. The acquisition of WORMLAND is
intended to render LUDWIG BECK one of the top addresses Germany-wide also
in the field of men's fashion.
Like LUDWIG BECK, WORMLAND relies on the magic of brands, sensuous product
staging, distinguished advice and prime locations. A successful example is
offered by the WORMLAND-Music label, which produces its own compilations
and, with its latest club sounds makes shopping a multidimensional
experience. Both companies adhere to a similar corporate philosophy and
rely on the customers' high-level expectations as well as the stronger
demand for an outstanding shopping experience.
"For us the acquisition of WORMLAND is the perfect complement to
successfully steer LUDWIG BECK into the future. We take pride in carrying
on the legacy of Theo Wormland, the company's founder", Dieter Münch,
member of the Executive Board of LUDWIG BECK AG says. WORMLAND will equip
the Store of the Senses with an additional sense", Christian Greiner,
member of the Executive Board of LUDWIG BECK AG adds. WORMLAND manager
Oliver Beuthien sees the acquisition by LUDWIG BECK as a new opportunity
for the company: "LUDWIG BECK offers WORMLAND a stable platform for
continuing its exciting, successful company history".
On account of the acquisition of WORMLAND, LUDWIG BECK's forecast for the
year 2015 has to be adjusted. The management now expects sales to increase
by approximately 60% (previously 2 - 4%). With the pro-rated sales of
WORMLAND included, LUDWIG BECK could thus attain accumulated gross sales of
approximately EUR 164m in aggregate in 2015 (previous year: EUR 102.7m).
The anticipated earnings before interest and taxes (EBIT) are expected to
rise considerably to approximately EUR 17 - 19m (previously approximately
EUR 10m) - basically due to non-recurring effects.
About LUDWIG BECK
The Munich fashion group is one of the top textile retail companies in
Germany. With approximately 500 employees on an area of about 12,400 sqm,
it generates EUR 102.7m in group sales (as of December 31, 2014).
LUDWIG BECK is located right at Marienplatz in the heart of Munich. On
seven floors, LUDWIG BECK presents international fashion, leather goods,
accessories and exclusive cosmetics. With more than 120.000 songs it offers
the biggest collection of classical music, jazz, world music and audio
books of any in-store location in Europe. Since the end of 2012, LUDWIG
BECK has offered the extraordinary brand portfolio of its beauty department
also online at www.ludwigbeck.de. A unique selection of almost 10,000
products featuring more than 100 luxury and niche cosmetics brands awaits
online customers.
About WORMLAND:
Theo Wormland GmbH & Co. KG, with a staff of 465 employees, generates gross
sales in the amount of approximately EUR 79.6m (as at December 31, 2014) on
a sales area of approximately 13,600 sqm. The company's headquarters are
located in Hanover.
In 1935, Theo Wormland (1907 - 1983) founded the company for men's fashion
bearing his name. Meanwhile the business group comprises two differing
store concepts: WORMLAND and THEO. With 15 branches Theo Wormland GmbH &
Co. KG today ranges among Germany's top men's fashion store chains, and
also operates an online store at www.shop.wormland.de.
The company's founder additionally assembled one of Germany's major private
surrealism collections. The works were in the meantime donated to the
Munich Gallery of Modern Art by the WORMLAND foundation.
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021-210
f: +49 89 206021-610
[email protected]
Group accounting contact:
LUDWIG BECK AG
Jens Schott
t: +49 89 23691-798
f: +49 89 23691-600
[email protected]
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13.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Marienplatz 11
80331 München
Germany
Phone: +49 (0)89 2 36 91-0
Fax: +49 (0)89 2 36 91-600
E-mail: [email protected]
Internet: www.ludwigbeck.de
ISIN: DE0005199905
WKN: 519990
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart
End of News DGAP News-Service
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