Hamburg (ots) - * Tom Tailor GmbH (TOM TAILOR) retains its
investor with extensive industry experience following its
takeover by Fosun International Limited
* Based on the milestones it has already achieved, TOM TAILOR will
implement its development plan by taking specific strategic and
* The TOM TAILOR brand's product portfolio puts it in an ideal
position to benefit from the mega-trend of "casualisation", which
is being reinforced by COVID-19
* Financing structure secured and prolonged until September 2024
Fosun International Limited (Fosun) has closed the purchase agreement
to acquire 100 percent of the shares in Tom Tailor GmbH on September
17th. The deal enables the TOM TAILOR fashion brand to continue
counting on the long-term support of its existing investor.
"Since first becoming a shareholder in 2014, Fosun has been a
reliable partner in its commitment to TOM TAILOR - and has always
believed in the brand and continued to invest in it, even in
particularly challenging times," said Gernot Lenz, CEO of Tom Tailor
GmbH. "The knowledge and experience we have gained together over the
past six years make Fosun the ideal partner to lead TOM TAILOR
successfully into the future after the crisis triggered by
Fosun will continue to provide Tom Tailor GmbH with intensive
financial and strategic support. This strategic investment should
create clear added value for the TOM TAILOR brand and Fosun and open
up further growth opportunities in the medium to long term.
"Fosun is committed to making long-term strategic investments in
companies that offer high-quality products and services to families
around the world," explained Xu Xiaoliang, Co-CEO of Fosun
International. "As one of Central Europe's best known fashion brands,
TOM TAILOR has developed a solid market base, benefits from an
extremely high level of trust among consumers and trading partners,
and has a fully developed supply chain and logistics system. We
therefore firmly believe that Tom Tailor GmbH will become an even
more capable and more profitable partner for us."
Given the TOM TAILOR brand's solid financial performance before the
COVID-19 crisis, management is confident that Tom Tailor GmbH will
successfully master its current and future challenges and will be
able to build on the growth recorded in 2019 no later than 2022.
With an owner that is focused on the long term and with financing
secured until September 2024, TOM TAILOR is able to continue
implementing its operational and strategic goals. The additional
financing facility of 100M EUR which became necessary following the
Corona lockdown has been paid out on September 22nd. The loan is
backed by a State and Federal guarantee provided by Germany, the Free
and Hanseatic City of Hamburg and the state of North
Rhine-Westphalia. "With the completion of the legal and financial
restructuring steps we can now fully focus on the continuation of TOM
TAILOR's success story," said Christian Werner, CFO of Tom Tailor
Targeted measures aimed at enhancing product and brand performance
One of the key strategic pillars will be continued investments in
product quality and a higher share of sustainable items and
materials. At the same time, the number of collections and selling
seasons in TOM TAILOR showrooms will be optimized effective January
2021. This will further strengthen the core business with existing
wholesale partners. The TOM TAILOR brand's product portfolio puts it
in an ideal position to benefit from the mega-trend of
"casualisation", which is being reinforced by COVID-19.
The company will also continue to push its digitalisation along the
entire value chain. This applies to both, product development and
sales processes as well as the expansion of the online business via
the company's own TOM TAILOR e-shop and its collaboration with online
retailers. In marketing and customer relationship management, the
plan is to invest even more in social media and other digital
channels. These efforts will result in an increased focus on
emotionality, clear imagery and storytelling to communicate the TOM
TAILOR brand DNA to consumers more effectively and to further enhance
the brand's desirability. To increase brand equity, the company will
continue its strategy of reducing markdowns across its own channels.
Growth will also be stepped up in Southeastern Europe from 2021
onwards with the opening of additional retail stores combined with
the introduction of an online presence in relevant local languages.
By pursuing a consistent efficiency programme to improve processes
and structures along TOM TAILOR's entire value chain, the company is
aiming to overcome the impact of the COVID-19 pandemic and further
optimise its cost structures. In this context, TOM TAILOR will reduce
its workforce in Germany by approximately 70 employees. The program
has been agreed with the workers council and will be implemented by
the end of September 2020.
The clarified ownership structure and financing arrangements enable
Tom Tailor GmbH to build on a solid foundation for further
development. Despite the continuing challenges, this stability
provides all of the company's stakeholders - particularly its trading
partners, suppliers, financing partners, and, of course, its
employees - with the required reliability to successfully develop the
business going forward.
About Tom Tailor GmbH
Tom Tailor GmbH is an internationally active, vertically oriented
fashion company that focuses on so-called casual wear and offers it
in the medium price segment. An extensive range of fashion
accessories expands the product portfolio. The company thus covers
the various core segments of the fashion market. The TOM TAILOR brand
is sold through the retail and wholesale segments, i.e. both through
the company's own mono-label stores and through retail partners. As
of 30 June 2020, these include 454 TOM TAILOR stores, 175 franchise
stores, 2,575 shop-in-shops and 7,649 multi-label outlets. In
addition, the collections are sold via the company's own online shop
and via major e-commerce platforms. The TOM TAILOR brand is thus
present in over 30 countries.
The executive management of Tom Tailor GmbH consists of Gernot Lenz
(CEO) and Christian Werner (CFO). Marcus Brüning has joined the
executive management team on an interim basis in the role of Chief
Restructuring Officer (CRO) to implement the efficiency programme.
Digital press kit: http://www.ots.at/pressemappe/DE51593/aom
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