DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier

DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Acquisition/Strategic Company Decision Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK acquires the men's fashion store chain WORMLAND 13.05.2015 / 08:05 --------------------------------------------------------------------- Corporate News LUDWIG BECK acquires the men's fashion store chain WORMLAND * With the acquisition, LUDWIG BECK takes an important step forward in expanding its market position in the field of men's fashion Germany-wide. * WORMLAND offers the ideal expansion for generating a significant growth potential for the group. Munich, May 13, 2015 - The Munich fashion group LUDWIG BECK (ISIN DE 0005199905) yesterday announced the full acquisition of the Hanover-based men's fashion store chain WORMLAND. The fashion company, which was founded in 1935, is considered the "avant-gardist in men's fashion" in the German retail sector, a genuine lifestyle brand offering a unique trading concept. Germany-wide, the company is represented with 15 branches. In 2014, it produced sales in the amount of approximately EUR 79.6m with a total of 465 employees on a sales area of 13,600 sqm. Since the year 2000, the company has been managed by Oliver Beuthien whose management will in the future be supported by Dieter Münch and Christian Greiner, the two Executive Board members of LUDWIG BECK AG. WORMLAND will continue to exist as an independent brand also under the umbrella of LUDWIG BECK AG. With two concepts the corporate strategy addresses two target groups. WORMLAND itself stands for stylish fashion for the well-funded, fashion-conscious man who is served in branches characterized by their top inner city locations with a size of 1,000 - 2,500 sqm each. The trading concept THEO focuses on jeans and casual wear and addresses a younger target group, which is served in the THEO branches on approximately 300 - 500 sqm each. Since the beginning of 2015, in addition to the future-oriented brand spectrum available in its brick-and-mortars stores, the company has offered a selection of trendy styles also online. The acquisition of this brand with a unique positioning in the German retail sector considerably strengthens the market position of the LUDWIG BECK group, and is based on strategic reasons. So far, LUDWIG BECK has stood primarily for premium women's fashion and non-textile product ranges like cosmetics and sound recordings. The acquisition of WORMLAND is intended to render LUDWIG BECK one of the top addresses Germany-wide also in the field of men's fashion. Like LUDWIG BECK, WORMLAND relies on the magic of brands, sensuous product staging, distinguished advice and prime locations. A successful example is offered by the WORMLAND-Music label, which produces its own compilations and, with its latest club sounds makes shopping a multidimensional experience. Both companies adhere to a similar corporate philosophy and rely on the customers' high-level expectations as well as the stronger demand for an outstanding shopping experience. "For us the acquisition of WORMLAND is the perfect complement to successfully steer LUDWIG BECK into the future. We take pride in carrying on the legacy of Theo Wormland, the company's founder", Dieter Münch, member of the Executive Board of LUDWIG BECK AG says. WORMLAND will equip the Store of the Senses with an additional sense", Christian Greiner, member of the Executive Board of LUDWIG BECK AG adds. WORMLAND manager Oliver Beuthien sees the acquisition by LUDWIG BECK as a new opportunity for the company: "LUDWIG BECK offers WORMLAND a stable platform for continuing its exciting, successful company history". On account of the acquisition of WORMLAND, LUDWIG BECK's forecast for the year 2015 has to be adjusted. The management now expects sales to increase by approximately 60% (previously 2 - 4%). With the pro-rated sales of WORMLAND included, LUDWIG BECK could thus attain accumulated gross sales of approximately EUR 164m in aggregate in 2015 (previous year: EUR 102.7m). The anticipated earnings before interest and taxes (EBIT) are expected to rise considerably to approximately EUR 17 - 19m (previously approximately EUR 10m) - basically due to non-recurring effects. About LUDWIG BECK The Munich fashion group is one of the top textile retail companies in Germany. With approximately 500 employees on an area of about 12,400 sqm, it generates EUR 102.7m in group sales (as of December 31, 2014). LUDWIG BECK is located right at Marienplatz in the heart of Munich. On seven floors, LUDWIG BECK presents international fashion, leather goods, accessories and exclusive cosmetics. With more than 120.000 songs it offers the biggest collection of classical music, jazz, world music and audio books of any in-store location in Europe. Since the end of 2012, LUDWIG BECK has offered the extraordinary brand portfolio of its beauty department also online at www.ludwigbeck.de. A unique selection of almost 10,000 products featuring more than 100 luxury and niche cosmetics brands awaits online customers. About WORMLAND: Theo Wormland GmbH & Co. KG, with a staff of 465 employees, generates gross sales in the amount of approximately EUR 79.6m (as at December 31, 2014) on a sales area of approximately 13,600 sqm. The company's headquarters are located in Hanover. In 1935, Theo Wormland (1907 - 1983) founded the company for men's fashion bearing his name. Meanwhile the business group comprises two differing store concepts: WORMLAND and THEO. With 15 branches Theo Wormland GmbH & Co. KG today ranges among Germany's top men's fashion store chains, and also operates an online store at www.shop.wormland.de. The company's founder additionally assembled one of Germany's major private surrealism collections. The works were in the meantime donated to the Munich Gallery of Modern Art by the WORMLAND foundation. Investor Relations contact: esVedra consulting GmbH Metis Tarta t: +49 89 206021-210 f: +49 89 206021-610 mt@esvedragroup.com Group accounting contact: LUDWIG BECK AG Jens Schott t: +49 89 23691-798 f: +49 89 23691-600 jens.schott@ludwigbeck.de --------------------------------------------------------------------- 13.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG Marienplatz 11 80331 München Germany Phone: +49 (0)89 2 36 91-0 Fax: +49 (0)89 2 36 91-600 E-mail: info@ludwigbeck.de Internet: www.ludwigbeck.de ISIN: DE0005199905 WKN: 519990 Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 356733 13.05.2015