BERLIN — German fashion brand Strenesse has been acquired by the Dutch Holding MAEG BV, a newly formed private investors group based in Amsterdam.
Strenesse, which is based in Nördlingen, has been operating under self-administration since filing for bankruptcy in April 2014. A spokesman for MAEG explained the Dutch investors group is in the process of pulling together a group of premium and luxury fashion companies. Strenesse is the first acquisition, and two other deals are in preparation.
Reiner Unkel, who was most recently chief executive officer of Basler and has long retail experience with Ludwig Beck in Munich and Breuninger in Stuttgart, has been named ceo of the newly founded Strenesse GmbH. All of the company’s current 240 employees will be taken on.
Unkel said he plans to bring Strenesse back to its roots “as a brand that sets trends and captures the spirit of the times” while also opening the label to a younger audience. With this in mind, he said the discontinued, sportier second line Strenesse Blue will now be relaunched.
The purchase agreement with MAEG involved a cash payment of an undisclosed amount, as well as a 20 percent stake by the firm’s former creditors.