KarstadtQuelle Eyes Massive Selloffs
KarstadtQuelle AG, the German retailing giant, plans to divest itself of several direct marketing operations as part of a company-wide restructuring.
First off, the firm plans to make an initial public offering next year for its online marketing unit Neckermann.de and is thinking of selling the unit.
The firm also plans to shutter its activities in Belgium and the Netherlands early next year and is in talks to unload its operations in France, Portugal and Spain.
In addition, KarstadtQuelle is looking to sell off its 10,000-employee Service Group–which contains 14 call centers, five distribution centers and IT service providers– either as a whole or in parts.
The company plans to expand Quelle, its larger and better-known direct marketing operation. Beginning next year, Quelle plans to
send out monthly catalogs and support them with TV spots.
According to wire service reports, KarstadtQuelle’s mail order division has seen its revenue decline in successive quarters and is currently in the red.
