The Austrian company, SIGNA Retail, has established a strategic partnership between La Rinascente and its German premium department stores operating under the name of the KaDeWe-Group. Following this, La Rinascente will in future hold 50.1 % of the KaDeWe-Group. The KaDeWe-Group includes the well-known KaDeWe premium department stores in Berlin, Alsterhaus in Hamburg and Oberpollinger in Munich. La Rinascente operates numerous department stores in Italy. The aim of the strategic partnership is to become Europe's leader in the market, know-how and innovation in the premium segment.
La Rinascente's entry was preceded by the conclusion of a collective agreement for the future between the KaDeWe-Group and the ver.di union negotiated and led by the Seitz law firm, which specialises in collective bargaining law, which provides for what are approx. 2,000 employees of the KaDeWe-Group to return to a collective bargaining agreement commitment and is the basis for the future working conditions at the premium department stores. In addition to this, Seitz also prepared and assisted in the transaction in matters of labour law.
Wolfram Keil, Managing Director of SIGNA Retail: "We are thus bundling the top powers in the premium segment – an important milestone on the way to becoming an integrated department store group of European character." In addition to the KaDeWe-Group, SIGNA Retail also owns Karstadt Warenhaus and Karstadt Sports. This means that SIGNA Retail, with 20,000 employees at more than 100 locations, is one of the biggest companies in German retail.