Gerry Weber: 100 new multi-branch stores planned annually
The Gerry Weber fashion company, seated in Westphalia, is expanding still further: For the 2008-09 business year, some 100 new openings of directly managed or franchise “Houses of Gerry Weber” are planned, 40 of them at home and 60 abroad. Moreover, in each of the following three years, 100 further multi-brand stores are to be added, the firm reported. CEO Gerhard Weber said, “We view the trend towards a market concentration as a great opportunity. As competitors are forced out of the market, we will be able to expand at an even faster pace. 2009 will be another year of streamlining and therefore offers excellent growth prospects for our company." During the 2007-08 business year which ended in October, the firm’s group sales climbed by 12.4%, to approximately €570mn. Earnings before interest and taxes soared by 21% to €62.7mn. For the current business year, the firm is expecting total earnings of about €640mn.