Sign Up for Updates

German Department Stores Karstadt, Kaufhof to Combine


German department store chains Karstadt and Galeria Kaufhof will merge under terms of a “strategic alliance” between Hudson’s Bay Co. (HBC) and Signa Retail Holdings.

Under the agreement, Signa, which operates the 76-store Karstadt, will buy 50.01 percent of HBC’s 97-store Galeria Kaufhof and half interest in HBC’s German real estate. The combined retail operations generate €5 billion in annual revenue. HBC purchased Kaufhof for $2.4 billion in 2014.

HBC has been under shareholder pressure to sell assets. It sold internet fashion retailer Gilt to Rue La La earlier this year and its flagship Lord & Taylor store on 5th Ave. in New York to WeWork Co. in 2017. It also announced plans to close up to 10 Lord & Taylor locations.


Hudson’s Bay Co., Kelly Mader, Chief Business Officer, 905-792-4400


Become a Member Today

Learn More

  • Copyright © 2019 Licensing International
  • We use web cookies to offer you a better experience on our site. By clicking on "Accept" you consent to the use of cookies in accordance with our Cookie Policy.

    Translation provided by Google Translate, please pardon any shortcomings