Strauss Innovation was acquired in 2008.
Strauss Innovation is a private label retail chain with approximately 100 stores in Germany. The company is well known for its innovative assortment concept combining interior decorations with women’s and men’s apparel.
EQT Opportunity executed a thorough restructuring process during the fund’s ownership, including a brand repositioning and the closing down of non-profitable stores. The restructuring resulted in a turn-around and Strauss was transformed from a loss-making business in 2008 to one which was expected to generate profits for the full-year 2011.
In 2008, EQT sold Strauss Innovation to an affiliate of Sun European Partners LLP.
Key events during EQT's ownership
- Implemented comprehensive cost restructuring
- Closed wholesale business to reduce complexity and streamline business model