The clothing group R.brand Group GmbH, based in Herford, has enlarged its portfolio. On Tuesday, the group of companies announced the acquisition of the leisure fashion provider Timezone GmbH. The brands Pierre Cardin, Pioneer Jeans, Baldessarini, Pionier Workwear and Otto Kern already belong to the R.brand Group.
Raphael Heinold, the CEO of R.Brand Group, explained the reasons for the acquisition. “We are very happy to integrate Timezone into our portfolio and are convinced that we can act even more on the market together,” he said in a statement. “Take Timezone is an important step for us to further expand our market position. With this purchase we create a win-win situation that benefits us as a company and all the brands in our group. ”
Timezone moves to Herford
Details of the transaction were not published. For Timezone, however, the takeover has extensive organizational consequences. The previous headquarters of the company in the Bavarian Raubling will be dissolved, the new owner said. Instead, Timezone will in future be led from the group headquarters of R.Brands in Herford. “This decision is part of the long -term strategy of the R.brand Group to combine all brands in a central location and increase efficiency,” said the group of companies.
The management structure also changes. “As with all brands of R.brand Group Raphael Heinold (CEO) and Anna-Lena Schulte-Angels (CFO), the management of Timezone GmbH, the group explained. “You will strategically develop the company and lead them to the future.”