Karstadt owner acquires online discount site

Karstadt owner Sigma Retail said on Monday it has acquired collapsed online fashion outlet dress-for-less.

Sigma Retail Managing Director Stephan Fanderl said the takeover is for Sigma “an important step towards becoming a retail group with a strong presence in both physical and digital outlets”.

Kelsterbach-based discount site dress-for-less filed for bankruptcy protection earlier in June and announced plans to restructure the business. The company also said it was in advanced talks with investors to lead the e-commerce platform into a new phase.

In April this year, Sigma Retail also acquired a majority stake in sporting goods site Outfitter.