Kenvelo

Kenvelo is a fashion retail company based in Říčany near Prague, Czech Republic.

History

The company was founded in 1991 by Dany Himi. The Israeli-born businessman opened a first shop in Plzeň, more followed. By 1995, he owned 35 stores. Together with its business partners, almost all managers who Himi had taken from his home to the Czech Republic, the ambitious climber was looking in the same year for a unified and catchy business name for the growing chain. To the naming itself entwines a Himi significantly mitkonstruierter myth, hence the name Kenvelo was immediately accepted after several fruitless discussions of all stakeholders. It is in the name is a composition of the Hebrew words "ken ", "ve" and "lo " (Hebrew כן ולא ) to German " yes and no " (literally, " yes and no "). In the course of naming also the holding Kenvelo SZ was founded with its headquarters in Prague.

Kenvelo competes primarily with the Swedish fashion group Hennes & Mauritz (H & M) and the Spanish Inditex Group ( Zara ), however, the position of the market leader in its home market only held. The brand is successful in the Czech youth culture, about 93 percent of all young Czechs know the label, according to a survey.

Expansion plans and start-up problems in Germany

Across Europe, the chain wants to establish in several steps, is the most important stage while Germany. In January 2003, the subsidiary Kenvelo Sportswear GmbH was founded in Berlin in March 2003 Himi announced the majority takeover of the loss- fashion chain Jean Pascale (JP), the Düsseldorf cosmetics company Marbert belonged until then. The coup Kenvelo should provide access to an existing network of 179 branches. This Kenvelo had at that time almost as many stores like H & M. The headquarters was moved from the capital to the former JP headquarters in Norderstedt. With the EU enlargement in May 2004, the company planned then the expansion in the key market of Germany.

The start-up was more difficult than expected. Even before the planned start - Germany in May had the Kenvelo corporation, successor of Jean Pascale AG, Register 2004 bankruptcy due to high losses in February. A turn in the bad business started in 2003, could not cause the takeover by the Czech fashion chain and the first steps of the restructuring, especially since most shops firmierten still under the JP logo. High rents sealed the insolvency. During the bankruptcy proceedings, in which he was involved as sole director of Kenvelo AG significantly to Himi positioned as a prospective buyer for the bankrupt estate. Finally took the Kenvelo Sportswear GmbH 90 former JP- branches and 1700 employees were negotiated for the new tariff policy and the return to the 40 - hour week. The Kenvelo AG was dissolved following the bankruptcy in August 2004, the label Jean Pascale abandoned. In addition, 60 unprofitable branches were closed and laid off 800 employees, not counting here are the layoffs and store closures between March 2003 ( the acquisition of a majority by Himi ) and February 2004 ( application for insolvency of the corporation ). The balance of Marbert AG, after all, could bring a small portion of its shares in free float in the course of 2003 was adversely affected by the insolvency of some 20 million euros, bringing the Company's Board to Piofrancesco Borghetti Erklärungsnot.

Restructuring, new beginnings and ultimate failure in Germany

In 2005 Kenvelo had a turnover of 55 million euros and other losses, which led to restructuring the entire company in Germany. Himi handed over the management of the entire company to his partner and co-founder David Kenvelo Dahan, the management of the business in Germany, was handed over to the wholesalers and buyers Mete Askinoglu. In addition, Himi sold his shares in the holding Kenvelo SZ to the Sefran Finance SA, which had taken a stake of 50% in the Kenvelo Group in July 2004. At the Sefran Finance in turn is the Management Marbert AG, Piofrancesco Borghetti, a 50% stake. Borghetti, who had a massive loss of reputation within the Marbert Group during the Jean Pascale / Kenvelo insolvency was. By the business to the majority owner of the Kenvelo Group The remaining 15 % of the shares belong on David Dahan.

Several times was public speculation about whether Himi has repelled his shares freely. According to rumors, and an article in the Czech newspaper " Týden " the Kenvelo founder braced against his long separation and even left his office at the company headquarters for a few days by a private security service block. It was not until several criminal charges should have moved him to relent. The company did not comment on the report.

In January 2006, the headquarters of the Kenvelo Sportswear GmbH was transferred to Neuss. The reason given for moving primarily with logistical changes, the new headquarters is conveniently located to most stores. In addition, the majority of Kenvelo collections has since been produced in Turkey. In December of the same year, the restructuring in Germany was completed, while the number of branches decreased in the Federal Republic up to 60. Were affected by the closures branches that had no development potential of the opinion of management. The break-even point, the company achieved in 2006, not the data of the manager Askinoklu According to the new, the company generated since October monthly " an increase of 30 % compared to last year ."

With the beginning of 2007 Kenvelo went to Germany return to growth. In January, was opened due to a branch in the Holsten road through the demolition of the Haerder house in Lübeck, another followed in September in Dinslaken. For fiscal year 2007, the management was expecting a slight increase, also lease and franchise agreements in Aachen, Trier, Hildesheim and Münster were closed in 2008. However, the establishment of the brand turned out to be still difficult Kenvelo could not emerge from the shadow of the great competitors H & M and Inditex ( Zara ).

The instigation of insolvency proceedings have been initiated against the assets of KENVELO Germany GmbH on May 26, 2009, the District Court Dusseldorf, Düsseldorf law firm Metzeler of the fencing took over the insolvency administration. The Company is currently no longer active in Germany.

Corporate Structure

Kenvelo has 230 branches in the Czech Republic, Russia, Romania, Hungary and Slovakia. With 110 stores in 20 countries - including Austria, Israel, England and Russia - the company works on a franchise basis. The company has released no exact sales figures and balance sheets. The objectives for the company's peak were the complete consolidation of the German subsidiary by the end of 2007 and, based on a comprehensive network of at least 1,000 stores in Europe.

Similar to H & M Kenvelo sets in sales to business in a prime location, preferably near the city center. However, the stores, as opposed to the H & M branches, not modeled on the design concepts of other premium and high-price brands. New stores are also planned only in cities with at least 100,000 inhabitants. Kenvelo has five product lines. Core range are the clothes and underwear collections for men and women, in some stores there is a children's collection. Is complemented by accessories and bags. The label 's slogan " anywhere" can also be found in the extended version of the brand logo. The internal motto of the company is "The best fashion and the best quality for affordable price!" ( " The best fashion and best quality at affordable prices !").