German Antitrust Authority Approves Sale of Fashion Brand Closed
The German Federal Cartel Office has officially authorized the sale of the fashion label Closed, marking a significant step in the restructuring of the Hamburg-based brand following its insolvency proceedings. The approval paves the way for an investor consortium led by Capital-Home, a company controlled by the Böck entrepreneurial family, to acquire a majority stake in Closed. Capital-Home, which also holds a controlling interest in the Marc O'Polo Group, will own approximately 75 percent of the brand, while the remaining shares will be held by textile executive Dieter Holzer, who will also assume the role of Chief Executive Officer.
Closed, known for its premium denim collections, operates 24 retail stores across Germany and maintains a presence in several other European countries. According to the Cartel Office, while there are some overlaps in product portfolios between the involved parties, competition in the fashion sector remains robust. The regulator concluded that the acquisition would not restrict market competition or harm consumer interests.
The company initiated insolvency proceedings in early August, primarily due to high levels of debt and related financial burdens. Despite these challenges, Closed reported that its core business, particularly in the denim segment, remains fundamentally profitable. The insolvency administrator, Stefan Denkhaus, confirmed last week that the takeover by Capital-Home and Dieter Holzer will provide the brand with experienced leadership well-versed in the international fashion industry.
The acquisition ensures that Closed's headquarters will remain in Hamburg. In addition to its 24 German stores, the brand operates ten more retail locations in Austria, the Netherlands, Belgium, Spain, and Switzerland. Importantly, the insolvency proceedings did not affect these overseas outlets. Closed also distributes its fashion lines through online channels and various retail partners, further strengthening its market reach.
Looking forward, the company is expected to employ approximately 330 staff members in Germany. The acquisition is anticipated to support the continued operation of retail sites and safeguard jobs, providing stability for employees and stakeholders alike. Industry observers note that the involvement of Capital-Home and Holzer brings not only financial backing but also strategic expertise, which could drive the brand's growth and competitiveness in the premium fashion market.
With the antitrust clearance secured, Closed is positioned for a new chapter, leveraging its established reputation in premium denim and fashion to regain market momentum. The restructuring under experienced ownership is set to reinforce the brand's presence in both domestic and European retail landscapes while maintaining a commitment to quality and innovation.