Tuesday , January 31 2023

There is no reservation at the Cartel office. | Cologne Stadt-Anzeger


Cologne / Bonn –

NRW Economy Minister Andreas Pinkwart (FDA) explained the Cartel office's decision to announce the merger of Karstadt and Kaufhof as "good news": "The merger is appropriate for the future viability of department stores: they can increase competitiveness and attractiveness "He said. Minister. He speculates that the company considers concerns about employees' decisions. "We are paying attention to this issue in the next few weeks and months and have a close relationship with everyone involved," Pinkwart says.

As part of the investigation, the German Federal Office of Investigations (Bundeskartellamt) conducted surveys of about 100 trading companies and traders, including Germany's largest online retailer and brick and mortar retailer. We examined the categories of baggage (bag / bag), laundry, sports / outdoors, games / toys, home textiles and office supplies and stationery. The market position of Kaufhof and Karstadt is the strongest in this sector, and the office justifies the choice. According to a survey completed earlier than expected, the merger "did not raise competition concerns that justify the ban."

The merger is expected to take place at the end of this month, so it will take time for the Christmas business. Karstadt Dam Signa will hold a stake of 50.01% in the new joint venture, HBC 49.99%. The command of the new Warenhaus AG will be taken over by Stephan Fanderl, a proven trade expert who has renovated and still manages Karstadt. El Corte Inglés in Spain A new department store with sales of around 5 billion euros behind the chain. 2nd in Europe. The new company employs 32,000 people in 243 locations in Europe.

Collecting purchasing power can allow Kaufhof and Karstadt to negotiate better terms with suppliers than ever before. In addition, industry experts in the areas of administration, data processing, and logistics may have greater savings. Whether it will be the future headquarters of Kaufhof or Karstadt has yet to be determined.

It is also unclear how many new jobs will disappear in the new company. René Benko, a native Austrian billionaire who bought Karstadt for 1 euro in 2014, speculated that up to 5,000 jobs were threatened with "irresponsibility."

In many cities there is still anxiety. I was afraid of branch closure and devastated the city. However, it is not expected that a wave will be concluded immediately after the end of the acquisition. According to experts, the cost will be too high given the rent, which will often last for decades.

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