Mexx fashion chain makes a new start with dozens of shops – NU.nl

Mexx fashion chain makes a new start with dozens of shops – NU.nl

That lets you know the curator Frits Kemp Wednesday NU.nl. The perfume line and sunglasses from Mexx be continued.

Ergolu will continue with two hundred of the five hundred employees in the Netherlands. Expected to be the first stores in a few weeks will be opened again.

As of now, there are interviews conducted with the staff. Working conditions and salaries are then determined again.

Strategic

The plan Eroglu are strategic in nature, related to the long term and the rescue of the brand and a very significant part of employment, says the curator. The company said in February about his plans.

Eroglu was founded in 1983 and represents more than six hundred stores in 38 countries, including Russia, Turkey, several European countries and the United States.

The Mexx group achieved in its heyday annual sales of around 1 billion euros. In 2011 it was 539 million and was further reduced to 320 million by 2013 and 254 million in 2014 (excluding Canada). There was, according to Kemp question of annual sales decline of about 10 percent.

Falling convert

The falling revenues, coupled with high costs and expenses for transformation of the company, have between 2012 and 2014 led to significant losses. Where equity Mexx Europe end

of 2012 amounted to about 40 million, this late in October 2014 amounted to EUR 28 million in the red.

Last December, the bankruptcy ruling on Mexx Europe International, Mexx Holding Netherlands, Mexx Europe and Mexx Euro Production. About two weeks later, the German branches, and Mexx Mexx Modehandels Holding bankrupt.

At the company had about fifteen hundred people, of whom five hundred and five hundred in the Netherlands in Germany.

The clothing company in fifty countries. Europe is about 315 affiliates. Among them are many franchisees, several outlet stores and store-in-stores.

Merge

Mexx originated in 1986 by the merger of the brands Moustache for men (M) and Emanuelle for women (E). Rattan Chadha was the founder of the new clothing brand.

He sealed the name with two kisses (xx) to Mexx. The chain has since 2011 owned by the US investor The Gores Group

Turkish buyer remains faithful to style Mexx clothing

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By: NU.nl/ANP