Successful implementation of robust trade-out plan to close department store and deliver target sales recovery.
By the numbers
We helped catalogue giant The Otto Group to close its out of town department store whilst maximising the value of inventory and fixed assets. Following a €3 million makeover in 2009, the one-off Kaufwelt Baur department store was forced to close its doors in December 2012 due to economic pressures. We were appointed in October 2012 to manage the closure and disposition of assets within a designated 11-week period. We developed a trade-out plan ahead of the store closure on 15th December and deployed a senior team of retail specialists to manage in-store operations. Our sales promotion strategy was implemented to include weekly discounts, maximizing sales recovery and delivering a guaranteed return. Alongside this our marketing programme drove public awareness and seasonal footfall into store. The 20,000m² department store was successfully closed within 11 weeks and sales were so effective that an upside sharing arrangement was triggered to benefit all parties. Our retail expertise and experience of country exits allowed us to develop a targeted campaign that efficiently executed the Kaufwelt Baur store closure to deadline and exceeding targets.