DGAP-News: TOM TAILOR Holding AG: TOM TAILOR taking over 23 franchise stores in Southeast Europe
(firmenpresse) - TOM TAILOR Holding AG / Key word(s): Joint Venture/Joint Venture
02.11.2010 09:00
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Hamburg, 02. November 2010. The international lifestyle company TOM TAILOR
is vigorously expanding its international retail network. The TOM TAILOR
Group has established a joint venture with Sportina Bled D.O.O of Lesce,
Slovenia as of October 1st, 2010. This strategic alliance is intended to
drive retail expansion in Southeast Europe, including Croatia, Slovenia and
Serbia. As a result of this, TOM TAILOR will take-over the existing 23
franchise stores within the context of the joint venture and with the final
aim of operating them as full own-retail stores. Five more retail stores
will be added this year in cities such as Zagreb, Split and Ljubljana.
Another 20 new stores will join them by the end of 2013. The take-over will
result in the fashion company TOM TAILOR owning an aggregate of 147 retail
stores per end of October 2010. This thereby entails a considerable growth
of 51 retail stores since June 30th, 2010.
'For years, Sportina has been an ideal partner for our expansion offensive
in Southeast Europe. The joint venture represents the next logical step in
expanding synergies further, vigorously driving our internationalization
and expanding TOM TAILOR's market position,' says Dieter Holzer, Chairman
of the TOM TAILOR Group.
TOM TAILOR holds 51 percent of the shares and Sportina has 49 percent. The
purchase price of the 51 percent shareholding is EUR5 million. Of that
total, EUR2 million is payable immediately and EUR3 million by December 31,
2013. Due to the controlling influence exercised by TOM TAILOR, the joint
venture will be fully consolidated within the TOM TAILOR Group, with the
minority interest reported separately. In 2009 the 23 franchise stores
generated revenue of EUR8.4 million and EBITDA of EUR2 million.
Since the beginning of 2000, Sportina has been the exclusive distribution
partner of the TOM TAILOR brand for all of southeast Europe and will
continue to operate TOM TAILOR's wholesale business in the region. The
purpose of the new joint venture partnership is to continually drive
forward the strategic expansion of the controlled retail areas.
Sportina was previously the exclusive TOM TAILOR distributor for all of
Southeast Europe, and will continue to handle the TOM TAILOR wholesale
business in this territory. The two partners have been working together
closely since 2000. The new partnership will steadily drive the strategic
expansion of controlled retail space.
It focuses mainly on opening retail and monolabel stores in medium-sized
cities and metropolitan suburbs.
The Hamburg headquarters will oversee all the space management centrally,
in order to position products to maximum effect and respond quickly to
changes at the point of sale. The fashion company will be leveraging its
partner's strength as a one-stop shop for all the market requirements for
sustainable growth, from excellent market knowledge to optimal space
procurement, through a select portfolio of trading partners.
This move enables the lifestyle company, which has been listed on the stock
exchange since March, to strengthen its strategy for long-term growth and
expand its international networks even further.
About TOM TAILOR
TOM TAILOR - Casual fashion for a casual life
The TOM TAILOR Groupis an international and vertically integrated
lifestyle company. It offers stylish, mid-priced casual wear and
accessories for men, women, teenagers, and children. Since its
establishment in 1962, the company has enabled consumers to embrace a
positive, carefree lifestyle with authentic fashions. TOM TAILOR is
represented in the fashion market with the brands TOM TAILOR Casual and TOM
TAILOR Denim, and develops twelve collections for each brand per year. The
range is complemented by 17 licensed product groups.
The company distributes its collections through its Retail and Wholesale
segments. TOM TAILOR is a dynamic company that has been continuously
growing and expanding for many years. At the end of the second quarter of
2010, TOM TAILOR was represented by 96 of its own stores, the TOM TAILOR
e-shop, 205 franchise stores, 1,240 shop-in-shops, and more than 4,500
multi-label sales centres - for a total of more than 6,000 points of sale
in 35 countries. In the first half of 2010, the TOM TAILOR Group generated
EUR 147.3 million in sales (H1 2009: EUR 134.0 million). The Company has
901 employees worldwide (as of June 30, 2010).
Media Contact
Dr. Andrea Rolvering
Head of Investor Relations&Corporate Communications
TOM TAILOR Holding AG
Phone : +49 (0) 40 58956-429
Fax: +49 (0) 40 58956-498
E-Mail: anr(at)tom-tailor.com
Additional information also at www.tom-tailor.com.
02.11.2010 09:00 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TOM TAILOR Holding AG
Garstedter Weg 14
22453 Hamburg
Deutschland
Phone: +49 (0) 40 589 56 0
Fax: +49 (0) 40 589 56 398
E-mail: info(at)tom-tailor.com
Internet: www.tom-tailor.com
ISIN: DE000A0STST2
WKN: A0STST
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in München, Düsseldorf, Berlin, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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Datum: 02.11.2010 - 09:00 Uhr
Sprache: Deutsch
News-ID 32460
Anzahl Zeichen: 0
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Kategorie:
Business News
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