Signa and HBC have reportedly signed a letter of intent for the fusion of the German Karstadt and Galeria Kaufhof department store chains.
HBC is striking real estate deals with a range of companies from Topshop to WeWork.
The move comes as Gladd gears up for a 2020 IPO on the Tokyo Stock Exchange.
The former Coty ceo is expected to become supervisory board chairman of HBC’s German and Belgian department store chain.
Department stores are gambling on talent from other sectors to revive their businesses.