"We are not running a race": CEO Dieter Holzer on Closed after insolvency

Closed has moved past its insolvency and is realigning, though without breaking from its past. The Hamburg-based denim label is focusing on continuity over a complete restart under the leadership of CEO and shareholder Dieter Holzer, who was CEO at Marc O’Polo until mid-2021. The brand's DNA remains intact. Simultaneously, Closed is developing a more focused collection, new structures, and its international expansion.

During the Düsseldorf Fashion Days, FashionUnited spoke with him about the brand's relaunch, retailer confidence, international growth, and why he believes courage and common sense are not mutually exclusive.

You have had an exceptionally challenging year behind you; looking at Closed today, what has changed the most?

The most important thing is that the company can operate freely again. We have re-established the conditions to do what an international brand with a strong DNA can and must do.

What does that mean specifically?

Developing innovative products. We have reorganised the company to some extent. The period before was not easy and was very difficult at times. Now we are back at full speed, showing what we are capable of.

Did you have to win back the trust of retailers first?

Honestly, no. Our partners have remained very loyal to Closed. They love the brand and appreciate the team and the people behind it. They stayed true to the brand and supported us during that time. We have only had positive experiences since we joined.

Previously, US expansion was a major topic. Has the insolvency changed that, and which markets are now the main focus?

We want to be everywhere. The insolvency gave us the opportunity to review all our markets and activities, and to scale back where necessary. In the end, however, we kept all the markets. We still have showrooms in Milan; Paris; Amsterdam; Antwerp; New York; Los Angeles; and Copenhagen.

The US market continues to be a good market for us. We work with very strong partners there, are excellently positioned, and the market is profitable for us. We are very satisfied with that.

How much growth potential is there today?

The potential is very large. We are not running a race, however. We are developing the brand step by step. I believe that brands with a clear identity and strong DNA have excellent international opportunities. In my view, Closed is one of them.

We have a fashion sensibility that resonates internationally. Furthermore, our history is recognised and our corporate culture is respected. We want to seize these opportunities.

Let's talk about the collection. I have heard it is slightly larger with more colour. closed has a very clear identity. are you broadening it, or is this a cautious rebrand?

A rebrand is not necessary at all. We are very strongly and clearly positioned as a brand. Our heritage; our DNA; our trousers; our styles; our X-Pocket; and the way we have been developing trousers for decades form a very strong backbone for Closed.

We have instead consistently translated relevant market themes and product groups into our collection, always with a clear Closed signature. The collection has not actually become significantly larger. We are simply offering individual styles in more colours now because we are convinced that is what will be in demand going forward.

A lot is happening in denim right now. Where does your greatest strength lie?

We are among the most renowned suppliers in the denim and trouser sector. We position ourselves in the affordable luxury segment. Our trousers are predominantly priced between 200 and 350 euros and are made in Italy. These are very special products.

The denim market is constantly evolving and now offers almost everything. Our products, however, remain clearly recognisable as Closed denim. That is exactly what our customers are looking for. We are particularly strong when it comes to innovations, new shapes, and new fits.

Consumers are spending more consciously and selectively. Jeans are an emotional product. In your view, is the investment still worthwhile for customers?

Yes. Denim is a very durable product. A pair of jeans becomes more beautiful as it ages. A good pair of denim trousers is therefore timeless and, for that very reason, a good investment.

Do you currently see any differences between menswear and womenswear?

No. Both areas have great potential. While we started from a smaller base in menswear, we have significantly expanded our offering. The men's collection has grown, and from autumn/winter 2026 we will even be working with two collections per season. We believe there is still a lot of potential there.

You are not only CEO but also a shareholder at Closed. Does that change your decisions?

Not really. I have always acted with an entrepreneurial mindset, even as a managing director. Entrepreneurial responsibility does not depend on owning shares. It is always about protecting the company, developing it further, and ensuring it is profitable.

I am fascinated by the combination of creativity and financial responsibility in your role. Where do you find the balance?

Analytical thinking is the foundation. One must look very closely at collections, pricing architecture, and structures. That forms the framework.

This must not restrict the creative work, however. At Closed, we thrive on experimenting with new qualities, new materials, and new techniques. We deliberately avoid setting strict limits for ourselves in that area.

The German market is often considered quite cautious, yet new impetus requires courage. What is your perspective?

I often hear that assessment. My experience, however, is different. We work with many innovative companies and the leading players in the German market. These are courageous companies that still act very deliberately.

Fashion is generally very structured and planned. At the same time, there is always a willingness to take the next step. This balance is crucial.

Speaking of balance, bad news often gets more attention than good news. How do you assess the market sentiment?

Bad news is often more exciting than good news. When I look at our conversations with partners and customers, I see a lot of positivity overall.

Looking to the future, where do you see Closed in the medium to long term?

We will consistently follow the path Closed has been on for many years. We want to enhance the brand's quality, continue to grow internationally, and strengthen our position as a relevant player in this market segment. Our goal is to become even more relevant. I am convinced that we will achieve this.

What should buyers take away with them when they leave the Closed showroom?

I want them to recognise the opportunities within this collection. They should see how much passion, courage, and consideration goes into every product.

Closed is a brand that appeals to an incredible number of people. What makes it special is that it works across generations, from daughter to mother and from son to father. There is an enormous opportunity for retailers if they select the right products and present them compellingly.