Wünsche AG
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Part 2
Good progress at CINQUE
The financial year was very successful for Cinque
Modevertriebsgesellschaft mbH. Compared to 1998, sales
increased from DM 85.6 million to DM 88.9 million. Its core
business, particularly women’s wear, displayed above-
average growth. A major contribution to this market success
was made by orders from large chain stores, which recorded
substantial growth. The increased marketing budget had a
negative impact on the result, which was below
expectations.
Prerequisites for future growth fulfilled
With JOOP!, CINQUE, Miles and Jansen, the Wünsche Group has
four companies that are well positioned in their respective
market segments and possess great development potential.
Both the exclusive (JOOP!, CINQUE) and the cut-price
(Miles, Jansen) segments offer good prospects for future
growth. The increase in share capital has fulfilled the
prerequisites for making targeted investments in the
expansion of the companies.
Due to its attractive positioning in the market and its
popularity among consumers, the JOOP! brand has
particularly strong growth potential. The objective is to
transform JOOP! into a major European player. This provided
substantial investments in the development of the
collections, distribution and marketing. The option of
conversion into a public limited company and subsequently
going public is being assessed. One primary task for the
current financial year is to steer product development
across all licensing sectors and to coordinate
distribution. The “rococo” perfume launched in February
2000 has since become one of the most successful women’s
fragrances in Germany.
CINQUE’s opportunities are rated optimistically. The
further development of the CINQUE brand primarily focuses
on strengthening the brand’s profile, expanding sales floor
areas in the retail sector and granting licenses in the
perfume, shoes and accessories segments. The above-average
growth recorded in the women’s clothing sector in 1999 will
also continue in 2000.
Business at Miles will grow due to the acquisition of new
major accounts and the expansion of the assortment in the
fashion segment. The young and already very successful
Young Fashion and Sportswear profit centres will become
even more dynamic as a result of additional licences. The
purchasing competence of the Miles Group will form the
basis for expansion into new markets.
At Jansen, the re-orientation process already started, the
conversion of the business system and the restructuring of
distribution will be continued. The first positive effects
can already be seen. In addition to existing licence
agreements, e.g. for “Winnie the Pooh”, there are plans to
take up new licences. Sales are expected to rise in 2000 as
a result of the measures initiated.
Following the capital increase (situation as at 1 April
2000), the investor group surrounding Albert Büll holds
22.2% of the subscribed capital of Wünsche AG, Richard
Orthmann and other investors 18.5% and Kai Wünsche 12.6%.
The Managing Board of the Wünsche Group expects a sales
increase of 2 to 3 percent in the current financial year
and a slightly positive result. Wünsche AG will benefit
from the measures initiated to reduce interest and
personnel costs at the holding company.
Please address enquiries to:
Monika Steilen
Corporate Communications Manager
Tel.: (+49) (0)40/38031-420
Fax : (+49) (0)40/38031-460
Hamburg, 18 April 2000
Ende der Mitteilung
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