Kaufwelt Baur Will Become Fashion And Sports Boutique In The Shopping Centr

The Baur Group is planning to transform the Mode and Kaufhaus Kaufwelt Baur

, located in Altenkunstadt, in Upper Franconia, into a pure fashion and sports boutique. In this context, the building of the current Kaufwelt Baur will be sold to an investor who will make use of extensive investments to transform it into a shopping centre that satisfies modern needs. The current state of the planning envisions about 250 employees in the individual shops of the planned centre. It should be completed by fall 2013. The investor will publicly announce his identity in the near future as the newly begun final negotiations positively progress.

The Baur Group's planned fashion and sports boutique will be involved in the planned shopping centre as a long-term and central anchor tenant. The plan intends for this transformation process to also be completed in fall 2013. This new fashion and sports boutique will be the central tenant of the new shopping centre. A focused selection that continues to place an emphasis in the areas of women's, men's and children's fashion, underwear, shoes, young fashion and sport is planned. This new boutique will be managed in future by Peter-Alexander Hegedsch, the manager of the current Kaufwelt Baur.

Letters of intent for long-term rental contracts with the renowned tenants of the planned shopping centre have already been signed - if the final negotiations proceed positively, they should be publicly announced in the coming weeks.

The Baur Group shareholders have now commissioned the company's management to promote the overall concept until the final decisions have been made. In addition to the final negotiations with the investor, management will also enter into deliberations with the works council.

Marc Opelt, the chairman of the Baur Group board, comments: "The Baur Group has a high level of competence in the areas of fashion and sport: we also want to include this in our retail activities in the future. Thus, our shareholders have given us the task of starting final negotiations on, amongst other things, a very long-term rental contract in the planned shopping centre. I am convinced that the planned shopping centre in Altenkunstadt has the potential to develop into a true visitor magnet!"

About Kaufwelt Baur

For many years Kaufwelt Baur served as the "Baur mail order catalogue that you could touch". After a large renovation in 2009 and the decoupling of the Mail-order house's selection, it is the largest fashion and department store in Upper Franconia. With a sales surface of over 20,000m2 and most recently about 190 employees, it offers wares from over 600 brands. The selection focuses on the areas of women's, men's and children's fashion, young fashion, shoes, jewellery, perfume, accessories, living and furniture. Peter-Alexander Hegedsch has managed the store since 2010.

About the Baur Group

As a member of the worldwide active Otto Group, the Baur Group consists of 12 central companies and brands with a focus on commerce and commerce-related services. This includes, for example, Baur Versand, Baur Fulfillment Solutions, I'm walking, mirapodo and the Kaufhaus Kaufwelt Baur. The Baur Group has a total of about 4,500 employees. The headquarters are located in Burgkunstadt, in Upper Franconia. The Baur Group is active in Austria and Switzerland via its subsidiary Unito with brand names such as Universal, Otto sterreich, Quelle sterreich, Quelle Schweiz and Ackermann. The external sales of the entire Baur group were about 616 mil. Euro (IFRS standard) in the 2011/2012 financial year.

by: J. Hoepfner

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