FNG Group considers move to Belgium, additional stock listing in Brussels

By

Shomara Roosblad

Published
Mar 15, 2018

Belgian-Dutch FNG Group is considering moving its headquarters from the Netherlands to Belgium as well as a second stock exchange listing in Brussels.

CEO Dieter Penninckx told Belgian newspaper De Tijd: “We have a lot of business in the Netherlands. But the management, the founders and the majority of our shareholders are based in Belgium. Most strategic decisions are already taken at the office in Mechelen.” He added that the move would result in about a hundred extra jobs in Mechelen, Belgium. At the moment the group employs 1,500 people in Belgium and 2,000 people in the Netherlands.

The fashion group is also aiming for a second stock exchange listing at Euronext Brussels in addition to its current listing on the Amsterdam stock exchange, reports De Tijd. FNG Group debuted on the Amsterdam-based stock exchange when it acquired the Dutch R&S Retail Group through a reverse acquisition in 2016.

In December 2017 the group announced that will soon start to distribute all of its clothing from one automated warehouse in Zoetermeer, the Netherlands. The new warehouse will store nine of the group’s labels under one roof that are currently stocked at several smaller warehouses spread across Belgium and the Netherlands.

FNG Group is the owner of both Belgian and Dutch fashion retailers, including Miss Etam, Expresso and Promiss. The company operates a total of 10 brands via 500 standalone stores, shop-in-shops and over 1500 multi-brand stores internationally.