S.Oliver Group continues to restructure its management team

The departure of Claus-Dietrich Lahrs from the S.Olivier Group had already raised the prospect of a strong comeback by the company’s founder, Bernd Freier, now 78, who seems to have continued to exert a certain influence over Jürgen Otto, the new CEO, from the outset.

In view of the strategic reorganisation, Jürgen Otto will gradually pass on his responsibilities to the management team, which he helped to build. Bernd Freier himself will continue to manage the S.Oliver Red Label, Q/S by S.Oliver and S.Oliver Black Label brands, as well as the position of CEO, until further notice.

Jürgen Otto, an outsider to the industry, did not take up his position as CEO until January 2023. He had managed to turn things around after a sharp fall in sales under the chairmanship of Claud-Dietrich Lahrs, a period marked in particular by the pandemic.

After the heavy losses of 2022, the Group was able to close 2023 with significantly positive cash flow from operating activities. This was also possible thanks to the ongoing adjustment of cost structures in all business areas and a strong focus on projects that have an impact on earnings.

At the same time, Jürgen Otto made a major contribution to the Group’s strategic reorganisation, for example by expanding the brand portfolio with Lala Berlin. For 2024, the foundations have also been laid for a new forward-focused approach.

Jürgen Otto will remain involved with the company as an advisor following its restructuring and turnaround, and will support the owner and management in implementing the digital and vertical projects already launched by the Group.

In addition to CEO Bernd Freier, Rottendorf’s management team will in future comprise Sales Director Carsten Schmitz, Chief Operating Officer Thomas Rothe, Chief Financial Officer Kai Bauknecht and Sonja Balodis, who worked for the Group for many years as Head of Comma before the arrival of Claus-Dietrich Lahrs and who left when he took up his post.

For the current 2024 financial year, the Group, with its brands S.Oliver, Comma, QS, Liebeskind, Copenhagen Studios and Lala Berlin, expects to continue its positive development despite a difficult market environment.