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German fashion specialist Gerry Weber has just unveiled a new turnaround strategy, called Performance Programme, that moves it on from its two-year-old Fit4Growth strategy.
Gerry Weber The new plan is designed to rebuild its business model from scratch and deliver sustainable profits growth, so we certainly can't accuse it of not being ambitious.
But is it really that is different from the previous strategy? The company, whose signature brand is also popular in the UK middle market, says yes.
Its new plan will see it focusing on its core competencies, streamlining its structures and ensuring that the flow of merchandise is effectively matched to what's in demand out there in the real world of retail.
Between and full-time posts will go at its HQ and in its logistics operations in the next two years. The Gerry Weber Retail statement will also see slightly lower revenues this year. But the long-term view is that sales revenues will grow significantly faster than the market as a whole from year three to year five.
And he admitted that it's something that the business needs to do rather than simply wants to do.Success at GERRY WEBER GERRY WEBER International AG is a dynamic, vital and globally operating fashion and lifestyle company. The creativity, the expert knowledge and the commitment of our employees remain key to the GERRY WEBER Group’s success in the marketplace.
For FY /16 (1 November to 31 October ), GERRY WEBER International AG posted sales revenues of EUR million, earnings before interest taxes, depreciation and amortisation (EBITDA) of EUR million and earnings before interest and taxes (EBIT) of EUR million.
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