Thursday, 18 May 2017

Karstadt further develops department store to marketplace business model

Start of a cooperation with El Corte Inglés

Parallel start of an off-price model in Karstadt stores

Karstadt CEO Dr Stephan Fanderl presented the further development of the department store into a marketplace to 500 guests from Europe and the Far East at Karstadt’s supplier conference in Essen. “The department store is the only physical marketplace in the city,” explained Fanderl. “This offers the opportunity both for brick-and-mortar and for online-only concepts to come onto the shop floor with us.” Fanderl has agreed an extensive first partnership with the El Corte Inglés subsidiary Sfera. In parallel, an off-price concept will be launched in Karstadt stores.