Chicory completes generation change in management

Jörg Weber, owner and founder of the Swiss fashion chain Chicorée, is stepping down from the Board of Directors after more than 38 years of operational activity and is handing over the reins to the new CEO Thomas Ullmann. Thomas Ullmann has already been working for the company for 25 years as COO in the purchasing and sales departments and has played a significant role in the successful development of the Chicorée Group. Newly, the two sons Pascal Weber & Mathias Weber take over the functions as Co-CEOs and join the management.

The young generation takes over

"It gives me great pleasure to be able to hand over operational management to the next generation with Thomas Ullmann and my two sons," comments Jörg Weber on the generational change. "In this constellation and through my function as Chairman of the Board of Directors, we will lead Chicorée into the future together. In view of the strong position in the market, the timing is ideal for a generational change in management," Weber continues. The management reshuffle at Chicorée has been completed as of December 1, 2020.

Chicory continues to grow

Chicory Group increased total sales in 2019 by 5% to CHF 159 million, the highest sales in the company's entire history. In the current year 2020, Joerg Weber expects a decrease in sales of 10% due to the closures because of Corona. "This is a pleasing result in that we were able to continue to increase sales this year outside the 2-month closures, which is due to the still good consumer demand in the discount sector, a strong collection, as well as a further massive increase in customer loyalty," explains Jörg Weber. In 2020, 6 new stores have been opened so far, with another new opening to follow in December. The detailed report on the 2020 financial year will be published in January 2021.

Launch in e-commerce and new omnichannel services

Chicory continues to aim for a fast pace and further growth in 2021. Between 5 and 10 new locations are planned. Also planned for next year are new omnichannel services such as Click & Collect (reserve products online and pay or pick them up in the store) and the launch of the e-commerce business.

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