Hamburg, 19 February 2019: The Board of Management and Supervisory Board of TOM TAILOR Holding SE (ISIN DE000A0STST2) today acknowledged the announcement of a takeover bid by its major shareholder Fosun, addressed to all shareholders of the TOM TAILOR Holding SE. Once the offer document will be release, the Board of Management and Supervisory Board will thoroughly review and evaluate it in due time, also with regard to the financial conditions, in accordance with their statutory obligations and in the interests of all shareholders of TOM TAILOR Holding SE. Fundamentally, however, the Board of Management of TOM TAILOR Holding SE welcomes such a step.
"In recent years, TOM TAILOR has been able to prove itself within a difficult market environment", says Dr Heiko Schäfer, CEO of TOM TAILOR Holding SE. "With our RESET programme, we laid the foundation around two years ago to ensure that the core brand business develops more successfully than that of many competitors. In addition, in autumn last year, we stepped up our measures to stabilise and restructure our BONITA subsidiary. Closer collaboration with Fosun as a strong partner would enable us to continue on our path towards long-term profitable growth, both through focused international expansion (with the "Go East" strategy) and growth within the context of advancing digitalisation. In both of these areas, Fosun would be in a position to provide support through their network and market expertise."
"We welcome the commitment and long-term support of our anchor shareholder Fosun", says Thomas Dressendörfer, CFO of TOM TAILOR Holding SE. "Fosun is a strong strategic partner, and is apparently ready to take on more responsibility for TOM TAILOR. We see this as a vote of confidence in the company and in the path we have taken. We also see it, however, as a clear signal to our investors and the capital market that TOM TAILOR is well equipped for the still challenging environment."
The Board of Management and Supervisory Board of TOM TAILOR Holding SE will work to come to an agreement with Fosun that will be in the interests of the company and its stakeholders.
About TOM TAILOR Group
TOM TAILOR Group is an international, vertically integrated fashion company focused on casual wear in the medium price segment. The product portfolio is complemented by an extensive range of fashionable accessories. With its brands TOM TAILOR and BONITA, the company covers the various core segments of the fashion market.
The TOM TAILOR brand is marketed through the retail and wholesale segments, and thus through single-label stores as well as wholesale partners. These include 453 TOM TAILOR stores and 185 franchise stores, 2,510 shop-in-shops and 7,082 multi-label points of sale. The brand is present in more than 31 countries.
Along with its 772 retail stores, BONITA now has 82 shop-in-shop spaces.
The collections of both brands are also available through their respective online shops.
Information is also available at www.tom-tailor-group.com and www.BONITA.eu
Head of Corporate Communications
TOM TAILOR GROUP
Phone: +49 (0) 40 58956-168
Head of Investor Relations
TOM TAILOR GROUP
Phone: +49 (0) 40 58956-449
19.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de