Tom Tailor

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Tom Tailor Holding SE

logo
legal form European society
ISIN DE000A0STST2
founding January 26, 1962
Seat Hamburg-Niendorf , Germany
GermanyGermany 
management
  • Gernot Lenz, CEO
Number of employees 6158 (2018)
sales 843.8 million euros (2018)
Branch textiles
Website www.tom-tailor-group.com
As of December 31, 2018

Clothing brand logo

The Tom Tailor Holding SE , based in Niendorf is a holding company of several fashion companies of umbrella brands Tom Tailor and Bonita (own notation: TOM TAILOR and BONITA). The range includes clothing and accessories for men and women of all ages in the medium price segment. The company sells its products through the wholesale and retail segments . The Tom Tailor umbrella brand is available in over 400 of its own retail stores as well as in its own online shops. In addition, the brand has around 180  franchise stores and 2,400  shop-in-shops-Area (with major customers) sold. Overall, the “Tom Tailor” brand is represented in over 30 countries and at 9800 points of sale around the world.

On June 8, 2020, Tom Tailor Holding SE filed an application to open insolvency proceedings at the responsible Hamburg district court .

history

Tom Tailor was first on 26 January 1962 in Hamburg by Uwe Schröder and Hans-Heinrich Pünjer as import company for terry towels and corduroy pants from India under the name Henke & Co founded. The range was then gradually expanded to include underwear, shirts and corduroy trousers for men. The first corduroy trousers were marketed under the name "Tom". The name "Tom", which was already established in the market, was finally expanded by the founders to include the English term "Tailor" (German: Schneider). The first sportswear collection was presented under the new brand name "Tom Tailor" in 1979. In 1989 the name was changed to Tom Tailor Sportswear Handels GmbH and in 1999 to a stock corporation . The majority of the around 30,000 branches in 80 countries around the world belonged to franchisees who, as independent entrepreneurs, sell articles under the “Tom Tailor” label. In 2002 the company generated sales of 350 million euros with around 700 employees.

Brand Invest SA , controlled by Piofrancesco Borghetti and the major Italian publisher De Agostini Editore , took over a 51% majority stake in Tom Tailor in 2003. Uwe Schröder and Michael Rosenblat held 49% of the shares.

In September 2006 Dieter Holzer (previously a member of the management of Tommy Hilfiger Deutschland GmbH ) was appointed CEO, replacing the company's founder Uwe Schröder, who moved to the supervisory board as chairman. In the years that followed, the company changed from a pure wholesale supplier to a vertically integrated system supplier. In the same year the textile company's first e-shop was launched. In 2007, the Tom Tailor Denim brand was launched, which is aimed at young adults.

2011 was in Hong Kong with the Tom Tailor Sourcing Ltd. founded its own procurement organization. In August 2012, the Tom Tailor Group took over the Bonita retail chain , making it the seventh largest fashion company in Germany. In the fall of 2012, Tom Tailor also took over the management of the Adler Modemärkte children's fashion store . Since 2015, Bonita has also been distributed via wholesalers in the form of a concession sale and consignment model.

At the end of February 2016 it was announced that the fashion chain wanted to close 14 Tom Tailor branches and 59 Bonita shops in Germany and abroad by the end of 2016 due to a lack of profitability. At the same time, 100 administrative positions were to be cut. In May 2016, long-time CEO Dieter Holzer had to vacate his chair due to the ongoing crisis, and Chief Operating Officer (COO) Heiko Schäfer took over the management of the company - initially on a temporary basis. At the end of October 2016, Schäfer announced that a total of 300 Bonita and Tom Tailor branches in Germany and abroad should be closed by the end of 2017. In mid-March 2017, Schäfer was appointed permanent CEO. The restructuring, including the withdrawal from foreign markets such as the USA and China, was considered largely successful at this point in time, so the group expected a recovery by the end of 2018. In April 2017 the company was renamed from Tom Tailor Holding AG to the European company Tom Tailor Holding SE .

Due to ongoing economic problems at the subsidiary Bonita, the group's debt continued to rise in the two following years. In 2018, the Bonita brand was still offered in around 750 own retail stores and via its own online shop. A planned sale of the subsidiary to the Dutch Victory & Dreams International Holding failed at the end of 2019.

On October 30, 2019, Tom Tailor signed a syndicated loan agreement with the syndicate banks and the major shareholder Fosun with a term until September 30, 2022, the total volume amounted to 375 million euros. As part of the conclusion of the loan agreement, the previous CFO Thomas Dressendörfer resigned from his position on the Management Board with effect from October 31, 2019, and Christian Werner became the new CFO. At the same time, CEO Heiko Schäfer resigned and Gernot Lenz was appointed as his successor.

The current management consists of Gernot Lenz (CEO), Liam Devoy (COO), Christian Werner (CFO) and Karsten Oberheide (BONITA).

Share and shareholders

Since March 26, 2010 the Tom Tailor Group has been represented by Tom Tailor Holding AG in the Prime Standard of the Frankfurt Stock Exchange and in the regulated market of the Hamburg Stock Exchange. On June 21, 2010, it was included in the Small Cap Index ( SDAX ), where it remained until December 18, 2015.

The Fosun from the People's Republic of China acquired in 2014 with the support of Tom Tailor Board equity shares of the former major shareholder of the supply and promotion Foundation of Vaduz / Liechtenstein, amounting to 23.16% and holds indirectly through its subsidiary Fidelidade-Companhia de Seguros SA , one of the largest insurance companies in Portugal . In addition, Morgan Finance SA, as a strategic investor , holds a stake of 4.72%, which is calculated as part of the free float. The free float at the end of 2014 was 76.84% and was mainly in the hands of institutional investors from Germany, Great Britain and the USA. Around 8.9% of Tom Tailor's shares were privately owned. The total number of shares issued at the end of 2014 was around 26 million.

In June 2017, Tom Tailor Holding SE issued around 9.9 million new shares as part of a capital increase, increasing its share capital from around EUR 28.6 million to around EUR 38.5 million (as of the end of 2017).

On February 19, 2019, the major shareholder Fosun acquired shares from a ten percent capital increase at a price of 2.26 euros per share and made an offer for the complete takeover. After the offer period has expired, the Fosun Group will hold 76.75% of the shares. The remaining 23.25% are in free float. In June 2019, Junyang Shao took over the position of Chairman of the Supervisory Board for Fosun.

Web links

Individual evidence

  1. ↑ Dr. Gernot Lenz becomes the new CEO of the Tom Tailor Group. Retrieved November 1, 2019 .
  2. ^ Tom Tailor Supervisory Board. Retrieved June 24, 2019 .
  3. ↑ a b Annual Report 2018. (pdf) In: tom-tailor-group.com. Retrieved November 22, 2019 .
  4. ↑ Tom Tailor receives state aid and files for insolvency proceedings Report by the business magazine Manager Magazin on June 9, 2020, accessed on June 9, 2020
  5. ↑ Yvonne Weiß: How Uwe Schröder invented Tom Tailor. March 10, 2015, accessed March 3, 2019 .
  6. ↑ a b TOM TAILOR Group | Our history. Retrieved March 26, 2019 .
  7. ↑ Frank Binder: Italians now set the tone for Tom Tailor . May 6, 2003 ( welt.de [accessed March 3, 2019]).
  8. ↑ TOM TAILOR takes over BONITA and enters an attractive new market segment (PDF; 248 kB)
  9. ↑ A bang in the fashion market: Tom Tailor buys Bonita  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. - Stuttgarter-Zeitung.de, June 22, 2012, accessed on June 22, 2012@1@ 2Template: Toter Link / www.stuttgarter-zeitung.de  
  10. ↑ Tom Tailor Holding AG: Tom Tailor successfully completes acquisition of Bonita. (PDF) August 9, 2012, accessed June 25, 2014 .
  11. ↑ Tom Tailor Holding AG: Annual Report 2015 (PDF) Accessed on May 24, 2016 .
  12. ↑ Bob Geisler: Hamburg fashion chain Tom Tailor closes up to 100 stores. February 24, 2016, accessed March 3, 2019 .
  13. ↑ Clear- cutting at Tom Tailor: The great shrinkage. Retrieved March 3, 2019 .
  14. ↑ Tom Tailor: Fashion chain expects a slow recovery. Retrieved March 3, 2019 .
  15. ↑ Hamburg District Court HRB 146032, entry from April 18, 2017.
  16. ↑ The crisis is back at Tom Tailor. Retrieved March 3, 2019 .
  17. ↑ a b Tom Tailor Holding SE: Annual Report 2018 (PDF) Accessed on November 29, 2019 .
  18. ↑ "Bonita is a disaster". Retrieved March 30, 2020 .
  19. ↑ a b c d Olivia Harder: Tom Tailor: New financing and new CFO. Finance Magazin, October 31, 2019, accessed December 20, 2019 .
  20. ↑ Tom Tailor makes Liam Devoy COO. In: fashionnetwork.com. June 1, 2017, accessed March 26, 2019 .
  21. ↑ TOM TAILOR Group. Board. Retrieved December 20, 2019 .
  22. ↑ Hamburger Abendblatt: Tom Tailor wants to grow faster after going public. (PDF) March 2, 2010, accessed June 25, 2014 .
  23. ↑ Deutsche Börse decides on the composition of its indices / changes will take effect on December 21, 2015 ( memo from December 23, 2015 in the Internet Archive )
  24. ↑ Ulrike Wollenschläger: In Chinese hands: Fosun holds almost 77% of Tom Tailor. In: Textilwirtschaft online. July 1, 2019, accessed November 29, 2019 .
  25. ↑ Takeover offer from major shareholder: Tom Tailor is to become completely Chinese . In: Spiegel Online . February 19, 2019 ( spiegel.de [accessed March 3, 2019]).
  26. ^ Martin Hock: New chairman of the supervisory board: Fosun tightens control over Tom Tailor . ISSN  0174-4909 ( faz.net [accessed June 28, 2019]).