S.Oliver Group continues to restructure its management team

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S.Oliver Group continues to restructure: Claus-Dietrich Lahrs’s resignation from the S.Olivier Group suggested a possible revival spearheaded by 78-year-old industry veteran and firm founder Bernd Freier. It seems like Freier has kept some sway over Jürgen Otto, the newly appointed CEO, from the start.

Strategic reorganization initiatives need that Jürgen Otto hand over more and more authority to the management team he helped form. Bernd Freier will remain in his role as CEO and will keep an eye on the S.Oliver Red Label, Q/S by S.Oliver, and S.Oliver Black Label brands until something else comes along.

It wasn’t until January 2023 that Jürgen Otto, a stranger to the business world, was named CEO. He triumphed through a difficult time, when sales fell precipitously under Claus-Dietrich Lahrs’ leadership (a trend that was greatly worsened by the epidemic).

In spite of heavy losses in 2022, the Group achieved a cash flow from operations that was noticeably positive by the end of 2023. This was accomplished by consistently focusing on projects that would drive profits and by adjusting cost structures across all areas of the company.

In addition, Jürgen Otto was instrumental in the Group’s reorganization of strategy, which included adding Lala Berlin to the brand portfolio. A future-oriented strategy will also have its foundations set in 2024.

Following the turnaround and reorganization, Jürgen Otto will remain an advisor to the business and help the owner and management team execute their digital and vertical projects.

Sonja Balodis, who was Head of Comma before to Claus-Dietrich Lahrs’s term, has joined CEO Bernd Freier, COO Thomas Rothe, CFO Kai Bauknecht, and Sales Director Carsten Schmitz on Rottendorf’s executive team.

The Group, which includes brands including as S.Oliver, Comma, QS, Liebeskind, Copenhagen Studios, and Lala Berlin, plans to continue its good momentum into the 2024 fiscal year, despite the difficult market conditions.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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