The retailer RStores GmbH, which operates numerous German stores of the Dutch denim label G-Star Raw as a franchise partner, has gained a new investor in the Mittelstand Sachsen (WMS) growth fund. The aim of the participation is to “actively develop the company further and to expand it both nationally and internationally,” WMS announced on Tuesday.
According to a statement, WMS joined the Chemnitz-based company at the turn of the year “in the course of a reorganization of the group of shareholders and planned growth projects”. In the course of the changes, the previous managing director Peter Romics handed over operational responsibility at RStores to his brother Jörg Romics.
“We are very happy to have a strategic partner on board with WMS, who will support us in the future expansion and development of the company, and look forward to working together,” said new Managing Director Jörg Romics in a statement.
According to the new investor, RStores GmbH, which was founded in 2006, currently “operates 33 stores of the G-Star Raw brand in Germany, primarily in 1A locations, and is also the largest fulfillment partner for G-Star’s e-commerce sector”. The WMS is a joint funding initiative of the Free State of Saxony and regional credit institutions. According to his own statements, since 2005 he has “accompanied more than 50 Saxon companies in the implementation of their growth strategies and succession solutions”.