Galeria plans to sell Inno
What: Inno, which is profitable again, could contribute to saving Galeria through its sale.
Why it is important: Inno is halfway in terms of company transformation. For that reason, its next acquirer will have to be extremely clear on the priorities to set.
Galeria Karstadt Kaufhof, the German department store chain in financial distress, is reported to plan to sell its Belgian subsidiary Inno in order to fund its own recovery.
Inno has recovered from the Covid-19 pandemic by becoming profitable again in 2022, with 16 branches reaching €314m turnover.
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