The Board of Consortio Fashion Group (CFG) has decided to open negotiations on closing all activities in Halens as a part of a long-term focus and therefore strategically strengthening Consortio Fashion Group in a competitive business. The planned restructuring is concentrated at increasing the investment in Cellbes and Bubbleroom to create better conditions for strong growth and profitability.
“We have since a long time invested in the digital transform of CFG and with this restructuring, we want to allow for an expanded commercial venture in our niche fashion brands Cellbes and Bubbleroom. In both of those fashion companies, we see that we have significant potential going forward. The strategic focus of the Group, where we follow the trend to leave the position with a very broad customer audience to the more specific ones, also allows us to offer better customer service and thus hopefully create even greater customer satisfaction, which is critical in today’s increasingly fast-changing and globally competitive market”, says Freddy Sobin, president and CEO of Consortio Fashion Group.
“I have been active in Consortio Fashion Group for nearly 25 years, first as president and nowadays as a director, and have seen how Halens as an early catalog company for a very long time has been challenged from many directions in a competitive market position. The market is developing even faster and it is no longer relevant to have such a broad customer audience. Now the focus remains on our two stronger and clearly positioned brands and it feels like the right direction forward”, says Gunnar Ryman, former CEO and now board member of Consortio Fashion Group.
The planned restructuring will start gradually in 2017 and the negotiations will begin shortly. Sales in Halens is scheduled to continue as normal during most part of next year, while efforts will be made to continuously strengthen Cellbes and Bubbleroom.
“It is obviously very sad that this repositioning will affect employees in both Halens as in central support functions, but it is sadly inevitable. We will now focus on finding the best solutions possible for all concerned”, says Freddy Sobin, president and CEO of Consortio Fashion Group.