Frankfurt, Germany. Credit: pixabay

“dress for less” and “Saks OFF 5th” are merging

A new growth concept for the off-price business sector: the multi-channel designer outlets “dress for less” and “Saks OFF 5th” are merging.

Both companies belong to the SIGNA Group and are now combining their strengths.

This will result in a strong omnichannel off-price retailer with integrated company headquarters in Frankfurt am Main. In addition, the logistics will be aligned even more consistently with the special requirements of this business model and will be concentrated at the Dietzenbach location.

The future management team will consist of Jörg Hensen, Constanze Olschewsky and Hanneke van Meeteren.

The merger will make it possible to realise considerable synergy effects, particularly in IT and logistics, and will generate major growth potential in the outlet business.

Among other things, the off-price specialists are operating a flexible small-format concept in seven stores on rented spaces at Galeria Karstadt Kaufhof, which will be rolled out to five additional locations in 2020.

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