- Prachi Singh |
FNG NV has announced the acquisition of Henkelman Group, a group active in the development and production of shoes. The company said in a statement that this planned acquisition fits in the FNG "way we work" with a strong focus on vertical integration and margin generation. Currently, FNG is in the final phase to take over the Henkelman organization in the Netherlands and the Far East (China).
FNG, which has been focusing on clothing for years, included Brantano into the group in 2016, as a result, FNG said that it was able to focus on both - shoes and clothing segments resulting in the per square meter turnover growth in its stores. Brantano now wants to focus on margin improvement taking production under its control, similar to clothing under the FNG purchase platform with branches Hong Kong, India and Turkey.
The Henkelman Group was founded 33 years ago by Theo Henkelman has its head office in Weert in the Netherlands. The organization realizes a turnover of around 45 million euros per year and employs 55 people. The company added to the statement that Henkelman has extensive know-how for many years and built up a strong reputation in the field of shoe development and production.