Consortio Fashion Group buys the Eastern European operations of the bankrupt german mail order giant Quelle in the Czech Republic, Slovakia, Poland and the Baltic States, including the former Quelle management team in Slovenia. The acquisition means that CFG gets a much larger geographic reach and sales potential than previously, which is why sales are expected to increase significantly.
CFG have long had the strategy of expansion in the east and southeast, and the strategy can now accelerate through the acquisition. Via the former Quelle businesses CFG gets significant customer records, local organizations, offices and other buildings, also nearly 400 affiliated stores respectively agents in the Czech Republic and Poland. The operations in these six countries has in total had a turnover of over one billion.
Quelle was a part of the german group Arcandor, which also includes the supermarket chain Karstadt and the travel company Thomas Cook. The bankruptcy has sold the trademark rights for the name Quelle to Otto Group, but CFG takes over the operations in Eastern Europe.