After around three years, the conglomerate of investors has sold its shares again, namely to Redwood Capital Management. The New York-based investor has improved the capital structure and wants to accelerate the transformations that have been initiated.
The lingerie specialist with around 900 stores in Europe suffered a drop in sales of almost 8% to around 542 million euros and a reduction in EBITDA of around 37% to 42.8 million euros in 2024.
To counteract the difficult market conditions and achieve sales growth again, Hunkemöller announced a comprehensive transformation program at the end of 2024. The main focus is on the customer experience. Overall, the manufacturer’s product range will be smaller and therefore more concise in the future. In the coming months, the retailer also plans to redesign 150 of its stores.
Hunkemöller last changed hands in 2022, when the Dutch investment company Parcom Capital and Opportunity Partners took over the company.
