The Dutch department store group HEMA is holding onto its stores in Germany for the time being - the long-term future of the one and a half dozen branches in this country remains unclear.
As reported by the FAZ in July, the omnipresent chain of stores in the Netherlands had called the German business into question under its new leadership.
A decision should be made by October if possible.
But HEMA has now postponed it, as well as for the business in Austria.
Klaus Max Smolka
Editor in business.
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The trading company announced this in a somewhat cryptic notice that it released after reviewing its general corporate strategy. “After careful strategic analysis, HEMA decided to focus on its core market, namely the Netherlands. Belgium, Luxembourg and France ”, it says on the one hand. "Germany and Austria have been identified as potential growth markets and are being examined further for their customer potential," it says on the other hand.
A spokeswoman did not want to comment more specifically on the prospects for Germany when asked by the FAZ.
But it is clear that things are in a state of flux: "If we already had a clear picture - whether we would stay or whether we would say goodbye - then we would have made a decision now," she said.
In the last week of October, HEMA will give an update on the corporate strategy.
Even then, a decision to do business in Germany is not pending.
Because otherwise one would have already announced in the latest announcement, said the spokeswoman.
A Dutch institution
At home, HEMA, founded in 1926, is an institution with its department stores. A first store opened in Germany in 2002, others followed, and from 2017 the chain expanded in this country with a dedicated strategy. In the medium term, they wanted to have up to 100 branches in the largest EU economy. HEMA has supporters among others who know the department store from the Netherlands. Many appreciate the products with their appealing design at moderate prices - some also appreciate the Dutch specialties such as syrup waffles, which cannot be found anywhere else. The range includes furnishings, household and small electrical appliances, clothing, bicycle accessories, drugstore, stationery and confectionery.
HEMA was founded as Hollandse Eenheidsprijzen Maatschappij Amsterdam - Dutch Standard Price Society Amsterdam - at a time when department stores otherwise served more of a sophisticated clientele.
Ownership has changed several times over the past two decades.
A financial investor loaded the company with debts, and financial difficulties ensued.
A Dutch entrepreneur bought the department store operator, but lenders took control away from him last year.
Uncertain future of the German branches
At the end of last year, the Van Eerd family, owners of the Jumbo supermarket chain, acted as rescuers together with the investor Parcom. In June, Saskia Egas Reparaz, from the drugstore chain Etos, took over operational management as the new CEO. While her predecessors expanded with the company abroad, HEMA is now turning the course under her guidance. The quartet of “core markets” - the Benelux countries and France - was defined. HEMA quickly announced that it would withdraw from the British market opened in 2014, as well as from Spain.
The fact that the German branches will now continue to exist can be seen as a surprise.
If a company announces that it is examining the continued existence of a business area or a region, the end can be considered more likely than the continuation - in the meantime, there is unrest among employees and suppliers.
In the meantime, HEMA is expanding its cooperation with Jumbo, in whose supermarkets HEMA shelves can be found in its home market.
Similar concepts in France with Franprix and Casino-Géant, on the other hand, are being terminated - as is a cooperation with the online platform Wehkamp at home.