New Hervis Owners Sell Foreign Operations to Unnamed Investor

Financial Struggles and Strategic Refocus

Hervis has faced significant financial challenges in recent years, accumulating losses exceeding €100 million in 2023 and 2024. In 2023 alone, losses including write-downs totaled €64 million, followed by €43 million in 2024. Revenue also declined, falling from €261 million to €253 million.

With the sale of its foreign operations, Hervis aims to streamline its focus. "Mit der Abgabe des Auslandsgeschäfts könne man sich 'jetzt vollständig' auf das Kerngeschäft in Österreich konzentrieren," said Markus Hupach, Hervis’s managing director.

The new ownership structure sees Voth, founder of German sneaker retailer Snipes, and Schloemer, founder of Berlin’s Factory office campus, each holding a 50% stake in the company. Key decisions regarding Hervis’s future will be made "in den kommenden Monaten," according to the company.

The move underscores a broader trend of European retailers consolidating operations to mitigate losses and refocus on core markets. For Hervis, the divestiture represents an opportunity to stabilize its Austrian business while leaving the fate of its former foreign stores in the hands of the new investor.

Next Steps and Market Implications

The unnamed investor’s plans for the acquired stores remain unclear, though the company indicated that operational evaluations are underway. The deal’s swift closure suggests urgency in addressing Hervis’s financial woes.

Industry analysts will be watching closely to see whether the investor retains the Hervis brand in Slovenia, Croatia, and Germany or rebrands the locations under a different banner. Meanwhile, Hervis’s leadership is betting that a domestic-focused strategy will stem further losses.

The sale also highlights the challenges facing mid-sized sports retailers in competitive European markets. With Spar’s exit and the new owners’ decisive action, Hervis enters a critical phase of restructuring—one that could determine its long-term viability.