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Köhler & Krenzer Fashion AG - Chronicle
In 1951, Messrs. Josef Köhler and Helmut Krenzer established a custom tailor's shop in Ehrenberg. In 1955 the shop became BGB-Gesellschaft Köhler & Krenzer, which was transformed into Köhler & Krenzer OHG in 1964. The business operations of this limited partnership (OHG) were transferred to Köhler & Krenzer GmbH Bekleidungsfabrik with effect from 1.1.1980.
At the beginning of 1983 Mr. Robert Schmitt, an acknowledged clothing expert, was hired as a fully authorised representative. His task was to bring Köhler & Krenzer into line with the changed market conditions. He was appointed as Managing Director in 1990.
In March 1997, Köhler & Krenzer GmbH Bekleidungsfabrik was acquired in its entirety by K & K Textilbeteiligungsgesellschaft mbH, Hamburg, in which Mr. Schmitt and his family hold a total of 51% and Mr. Thomas J. C. Matzen holds 49%. In August 1998, K & K Textilbeteiligungsgesellschaft mbH was transformed into Köhler & Krenzer Fashion Aktiengesellschaft with share capital of DM 7.5 m.
In May 1999, the share capital was increased to DM 10 m by the issue of 500,000 unit shares, and a total of 2 million unit shares were admitted for trading on the regulated market at the Frankfurt and Hamburg stock exchanges. The company placed a total of 980,000 shares on the stock market, and their issue price was EUR 19.80.
With the approval of the extraordinary general meeting held on June 21 2000, Köhler & Krenzer Fashion AG acquired 100% of the shares in H & E Fashion GmbH & Co. KG and H & E Fashion Verwaltungs GmbH, which hold 70% of the shares in the Gelsenkirchen-based Marcona-Kleidung Heinz Ostermann GmbH & Co. KG. As a result, the Group's sales and earnings almost trebled in the business year 2000/2001. The Management Board was enhanced by the addition of Mr. Matthias Eckhard, Managing Director of Marcona-Kleidung.
In 2002 the business year was converted from 1.6.-31.5. to the calendar year 1.1. - 31.12. Mr. Wolfgang Staminski joined in the Management Board as successor of Mr Matthias Eckhard, who resigned as from December 13, 2002. Mr. Michael Hultgren was voted at the annual general meeting on December 12, 2002 as successor of Mr. Wolfgang Biedermann, who dropped out of the supervisory board after the AGM.