FNG Group aims to introduce its Dutch brands in Germany
Plans for a German expansion of the Dutch chains of rapidly growing Belgian fashion group FNG are under consideration, the group's CEO Dieter Penninckx revealed in an interview with Het Financieele Dagblad.
The Belgium-based FNG Group relaunched Dutch fashion retailers Miss Etam, Expresso and Claudia Sträter in recent years. In order to further develop these brands Penninckx sees possibilities in German expansion. Claudia Sträter has already opened a store in Munster, Germany in September 2015. The group also aims to establish Expresso and Miss Etam in the country.
FNG Group is also considering taking over a German brand or fashion chain. “The majority of sales start online, but they usually end in physical stores. I don’t believe in offering products at Otto or Zalando. In such cases, you also want your own retail network. We're pretty modest, but if you take over [a fashion chain] in Germany, you're thinking of a hundred stores,” said Penninckx in an interview with Het Financieele Dagblad.
In addition to a possible German expansion, FNG Group wishes to launch its Belgian brands, including Fred & Ginger and CKS in Spain. The latter is already available at the country’s El Corte Inglés department stores and via a standalone store at Barcelona’s famous Ramblas.
FNG Group designs and distributes clothing and shoes for both ladies and children. The company currently owns 10 brands, which operate via 500 standalone stores, shop-in-shops and over 1500 multi-brand stores internationally. The company is listed at the exchange market of Euronext Amsterdam and has more than 3,000 employees, who together realize a turnover of €500 million euros. The company first entered the Dutch market in 2012 with the acquisition of Claudia Sträter.
Copyright © 2022 FashionNetwork.com All rights reserved.