Maxeda retail group considers fashion sale

Thursday 11 February 2010

Maxeda, the retail group which owns the Bijenkorf department stores and DIY chain Praxis, is considering selling its fashion outlets, the company said on Thursday.

The group is conducting a strategic review of the fashion business which includes V&D (including La Place), Bijenkorf, Hunkemöller and M&S Mode. The results of the review are due at the end of the year.

'All our fashion formats have achieved strong market positions and have shown robust financial performance in the downturn, reflecting the sustainability of their long term growth prospects under experienced management teams,' said group chairman Tony DeNunzio in a statement.

'Maxeda will take into account the interest of all stakeholders and on that basis will look for the best options to facilitate the growth strategy of its fashion formats.'

Private equity

Maxeda is owned by private equity groups KKR, Cinven, Alpinvest and Permira. They bought, delisted and rebranded the Vendex KBB group in 2004.

Hema was sold to Britain's Lion Capital in 2007 and fashion chain Claudia Sträter was divested last year.

According to the Financieele Dagblad, Maxeda's fashion business generated net sales of €808m in the first half of the 2009-2010 financial year. The division has 959 shops in the Netherlands and abroad.

© DutchNews.nl

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