Gerry Weber announces the shutdown of all its physical retail stores.
Spanish Firm Acquires Struggling German Fashion Brand Gerry Weber, Plans Store Closures
German fashion manufacturer Gerry Weber, known for its high-quality clothing, is set to close all its stores in Germany following the acquisition of its international brand rights by the Spanish fashion company Victrix Group.
The insolvent brand, which has been in crisis for several years, has faced repeated insolvency proceedings and unsuccessful rescue attempts. Despite drastic cuts, including the closure of 122 stores and over 400 job losses, the company failed to achieve a positive financial outcome.
The provisional creditors' committee and administrator, Lucas Floether, have approved Victrix Group's takeover concept. The Spanish family-owned firm plans to sell Gerry Weber women's fashion in Germany through trading partners who also carry other brands.
Victrix is acquiring the brand with the intention of strengthening its position in the upscale mid-price segment, primarily in Central and Eastern Europe, where Gerry Weber has significant brand recognition. The company aims to ensure a smooth transition for both trade partners and customers by streamlining production and other associated processes through existing Victrix structures.
Earlier this year, Gerry Weber International GmbH filed for bankruptcy [1][2], marking a significant financial setback for the brand. The banking industry watched closely as the Spanish firm moved to acquire the struggling brand, a strategic move that could potentially revitalize the brand and create growth in the European market.
The fashion industry in Germany is currently facing challenging times, with a growing number of companies filing for insolvency. These include well-known retailers such as Esprit, Sinn, and Scotch & Soda [5]. The weak consumer climate in Germany and other parts of Europe, along with sharply increased costs for energy, rent, and wages, have contributed to the difficulties faced by the sector.
[1] ntv.de/wirtschaft/gerry-weber-erste-haeftung-fuer-wettbewerb-schwer-gefallen (German, accessed on May 5, 2025)
[2] dpa.com/DEU/de/1/wirtschaft/Gerold-Mahy-Gerry-Weber-Insolvenz-14022025 (German, accessed on May 5, 2025)
[3] reuters.com/business/retail-consumer/exclusive-spanish-victrix-plans-relaunch-germanys-gerry-weber- spokesman-2025-05-05 (accessed on May 5, 2025)
[4] reuters.com/business/retail-consumer/exclusive-spanish-firm-victrix-acquires-german-fashion-brand-gerry-weber-spokesman-2025-05-02 (accessed on May 5, 2025)
[5] welt.de/wirtschaft/industrie/article248599346/Galeria-muss-Insolvenz-anmelden.html (German, accessed on May 5, 2025)
The acquisition by Victrix Group, a Spanish fashion company, of the struggling German fashion brand Gerry Weber includes plans to sell women's fashion in Germany through trading partners. To strengthen its position in the upscale mid-price segment, Victrix aims to ensure a smooth transition by streamlining production and associated processes through existing Victrix structures.
In an effort to revitalize Gerry Weber and create growth in the European market, the Spanish firm may implement changes in community policy, such as vocational training programs for employees, to adapt to the new business model and improve the brand's lifestyle and fashion-and-beauty offering.
