Kaufhof boss puts an end to all discussion of Karstadt merger

Lovro Mandac, chief executive of German department store chain Galeria Kaufhof, is apparently tired of rumors of a possible merger with competitor Karstadt. These rumors were recently fueled again by the partial takeover of Karstadt by Austrian entrepreneur René Benko and the simultaneous public statement of Olaf Koch, chief executive of Kaufhof’s parent Metro, who said that Kaufhof would be for sale. In an interview with Wirtschaftswoche, Mandac pointed out that he was not interested in such a merger which would cost Kaufhof three years of its own development. While he admitted that some Karstadt locations could be interesting, he is not exactly excited about having a double load of two administrative and operational structures. Mandac would accept, however, the Karstadt chain, if their outlets were offered “for free”.

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