11-2-2010
Maxeda initiates strategic review of fashion business
Maxeda B.V. (“Maxeda”) announces that its Executive Board and Supervisory Board have taken the decision to start a strategic review of its fashion business comprising V&D (including La Place), Bijenkorf, Hunkemöller and M&S Mode. Maxeda intends to retain JPMorgan and ING to conduct a comprehensive review of all strategic options for its strong and successful fashion formats with the aim of optimising the businesses’ future potential which may result in a sale.
The strategic review is expected to be finalised before the end of this year. Tony DeNunzio, Executive Chairman Maxeda: “Our strategy is aimed at creating retail leaders across our businesses. All our fashion formats have achieved strong market positions and have shown robust financial performance in the downturn, reflecting the sustainability of their long term growth prospects under experienced management teams. We are therefore confident our fashion formats are now ready to take the next step in their evolution. Maxeda will take into account the interest of all stakeholders and on that basis will look for the best options to facilitate the growth strategy of its fashion formats.
” Further information will follow if and when appropriate.