Karstadt/Kaufhof head hopes to maintain and sublet locations
Stephan Fanderl, former head of Karstadt and CEO of the new Karstadt/Kaufhof joint venture, intends to retain as many locations as possible, according to the newspaper Frankfurter Allgemeine Zeitung (FAZ). The department store segment is to be strengthened in areas where both retailers are present, while other segments may profit from “bringing in competent partners”, such as food retailers, drugstores, and restaurants as well as services like city kindergartens. Fanderl also intends to work with pilot sites for the joint venture’s online business, with logistics hubs being built for same-day deliveries. Karstadt generated positive figures in the past business year; some of the restructuring strategies could also be transferred to Kaufhof.
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