Steilmann (company)

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Steilmann SE
legal form Societas Europaea
ISIN DE000A14KR50
founding 1958/2006
Seat Bergkamen , GermanyGermanyGermany 
management
Number of employees 8,526 (September 30, 2015)
sales 900 million euros (2014)
Branch Retail, textiles
Website www.teilmann-se.com

The Steilmann SE headquartered Bergkamen is a publicly traded textile company. The company has been in bankruptcy since the end of March 2016.

Beginning and ascent

The retail salesman Klaus Steilmann (1929–2009) founded Klaus Steilmann GmbH & Co. KG in Wattenscheid in 1958 with borrowed start-up capital of DM 40,000 . with 40 employees and achieved a turnover of 7.2 million DM in the first year. In November 1958 he designed his first ladies' outerwear collection (DOB). He joked about his beginnings: “I have one thing in common with Bill Gates. We both started in a garage. ”His slogan was“ Fashion for Millions ”.

With 34 operations, the company achieved sales of DM 1 billion in 1985 and had a market share of around 10 percent of total German sales in women's outerwear and was considered Europe's largest clothing manufacturer. The Exquisit stores in the GDR were also supplied. In 1988 the company worked together with the designer Karl Lagerfeld , who designed and labeled his collection with KL - by Karl Lagerfeld for Steilmann. From 1988 men's clothing was also produced.

In 1993 Steilmann also had production in the Ukraine and in 1994 in Vietnam . a. the retail chains C&A , Peek & Cloppenburg , Karstadt , Kaufhof and Marks & Spencer . In 1998 the Steilmann Group had total sales of DM 1.45 billion, around 3,500 employees in Germany and 18,200 employees worldwide. The globalization has led to price pressure, the company in the long run could not withstand.

Decline and bankruptcy

Klaus Steilmann headed the group until 1999. In October 1999 the management of the group was handed over to Joachim Vogt , the former boss of Hugo Boss . Finally Britta Steilmann came back to the company and was managing director from August 2001 to 2003. As part of the concentration on the core business and outsourcing , changes were made. At the beginning of 2003, among other things, the company's own IT department with 37 employees was closed.

The general downsizing was carried out with the help of a social plan . The closure of German production and its relocation to low-wage countries caused equity to shrink sharply. In 2002 sales were still over EUR 500 million. In 2003 the numbers were in the red for the first time. Britta Steilmann handed the management over to her sister. Ute Steilmann ran the business together with CFO Klaus Friedrich and HR manager Willy Krahn. Her sister Cornelia Steilmann was responsible for international business. In 2005 the advice from Gerd Niebaum and Friedhelm Ost promised to lead to the renovation. In 2005 the plant in Cottbus was closed.

In September 2006 Ute Steilmann announced an application for bankruptcy . At that time, the company still employed around 500 people in Germany and 3,000 people in Romania .

Takeovers and renewed bankruptcy

The bankruptcy was averted in October 2006 by the complete takeover of all Steilmann shares by the Italian Miro Radici Group (renamed Steilmann Holding AG in 2012), based in Bergkamen . Miro Radici had previously bought the brands Apanage, Kirsten, DressMaster and Nienhaus & Lotz from Steilmann. Michele Puller is the managing director of Miro Radici .

In March 2013, the company announced that it would take over around 46.96 percent of the shares in Adler Modemärkte together with the Luxembourg investor Equinox Two from BluO . In October 2015, Steilmann SE, which, as the legal successor to Steilmann Boecker Fashion Point GmbH & Co KG, includes the operational business of Steilmann Holding, announced its IPO on the Frankfurt Stock Exchange in the Prime Standard.

On March 23, 2016, the company declared its insolvency and on the following day, together with its also insolvent major shareholder Steilmann Holding (which in turn belongs to the Puller, Giazzi and Radici families), filed for insolvency at the Dortmund District Court . Persistently weak business was named as the reason for the bankruptcy; the banks were no longer willing to provide financing and talks with potential donors failed. The most valuable part of the bankruptcy estate is said to be the 80 million euro stake in the Adler fashion stores .

Web links

Individual evidence

  1. ↑ Interim Results 9 Months 2015 (PDF)
  2. ↑ Steilmann SE COMPANY. In: steilmann-se.com. Retrieved January 1, 2017 .
  3. ↑ Handelsblatt : Steilmann Group is largely broken up, October 27, 2016
  4. ↑ Steilmann history
  5. ↑ Wolfgang Dahlmann, dpa / DPA: Klaus Steilmann: After a shrinking course, growth will return in two years. In: stern.de . June 7, 2004, accessed January 1, 2017 .
  6. ↑ Gabor Steingart: “They want me out” . In: Der Spiegel . No. 9 , 1991 ( online ).
  7. ↑ MODERN LIFE: mass fashion from star couturiers . In: Der Spiegel . No. 7 , 1988 ( online ).
  8. ↑ "It's going fantastic" . In: WAZ.de , June 22, 2012.
  9. ↑ history. (No longer available online.) In: steilmann-holding.eu. Archived from the original on October 29, 2016 ; accessed on January 1, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.teilmann-holding.eu
  10. ↑ Adler Modemärkte AG. In: eqx.ch. Archived from the original on December 1, 2015 ; accessed on January 1, 2017 (English).
  11. ↑ Reuters: Steilmann buys Adler Modemärkte. In: handelsblatt.com . March 21, 2013, accessed January 1, 2017 .
  12. ↑ Thomas Müncher: IPO in focus: Steilmann SE. In: goingpublic.de. October 19, 2015, accessed January 1, 2017 .
  13. ^ Steilmann-Boecker becomes Steilmann SE. In: finanzen.net. August 28, 2015, accessed January 1, 2017 .
  14. ↑ pso./dpa: Steilmann files for bankruptcy. In: FAZ.net . March 23, 2016, accessed January 1, 2017 .
  15. ↑ Bad business: Steilmann fashion company - from the stock exchange to bankruptcy. In: finanzen.net. March 25, 2016, accessed January 1, 2017 .