German apparel company W�nsche AG plans to take over designer Wolfgang Joop’s remaining 5% stake in the Joop! GmbH.
Hamburg-based W�nsche is presently in talks about the conditions of such a transaction. It is not yet clear if the Potsdam-born designer would lose all rights to the brand named after him in case of a payoff. Rumour has it that, in the long run, Wolfgang Joop is to continue collaboration with the company in some way.
It is estimated that W�nsche will pay up to DEM 10m for the 5% stake.
Listed W�nsche AG, parent of Cinque, Miles, and Jansen Textil, acquired Joop! GmbH in February 1998. In 2000, Joop! GmbH accounted for approx. DEM 42.5m (EUR 21.7m) to W�nsche’s total turnover of DEM 520m (EUR 265.8m), representing a 8 % contribution. Turnover generated by the brand’s licensed products amounted to DEM 505m (EUR 258.2m).
