24.09.2008, Karstadt opens new department store after three years renovation

Essen/Hamburg (Germany) - September 24, 2008.  New shopping dimension in Hamburg's Mönckebergstrasse. After three years of renovation on its department store, Karstadt Warenhaus GmbH is offering its customers a new shopping experience from Thursday, September 25, 2008 under the motto "Hamburg has class". Karstadt is presenting experience-shopping over 31,700 m2 in a pleasant and modern look with new, additional brands and a higher quality of store experience. The Essen-based Karstadt Group has invested a total of EUR 36.8 million in its largest North German department store.

"Our new department store demonstrates what Karstadt stands for: a modern market place with a new store design, higher brand presence, a product range structure oriented to customer desires and a new and excellent overall presentation", said Werner von Appen, manager of the Karstadt Mönckebergstrasse branch, at the opening press conference. "With the investment of over EUR 36 million, we are ambitiously extending our market position in Hamburg's city center," added von Appen. This commitment of the Karstadt Group is seen as a contribution to the further development of Hamburg's national and international significance as a shopping metropolis.

The new Karstadt store's brightness and clear design is captivating. High-quality materials were used for the interior decoration and furnishings. The entire range structure and the product presentation are based on consistent category management (customer oriented selection). "It's fun to shop here," said von Appen. The selection and the inspiring product presentation in a modern and simultaneously inviting atmosphere set new shopping standards in Hamburg and environs.

The Karstadt store on Mönckebergstrasse places considerable emphasis on the areas of Fashion, Beauty and Accessories. These particular product ranges occupy up to 65 percent of the total sales space in the Karstadt store. 24 percent of the floor space is occupied by the Home product range (Living, Electronics and Multimedia). 11 percent of the sales area is devoted to food and drink.

The new opening extends the comprehensive brand portfolio with 74 more brand shops including Otto Kern and Alberto in men's fashion and Mac and Gelco in ladies' wear, Simon Perele and Palmers (lingerie), Tom Tailor and Nice Connection (Young Fashion) as well as Möwe and Joop in Home Textiles, to name but a few. Other new brand shops have been integrated in Accessories (e.g. Lacoste, Furla) Fragrances (e.g. YSL, Armani, Bulgari) Confectionary (Lindt, Niederegger), Stationary (Graf Faber von Castell; Montblanc) and Watches and Jewelry (Pandora, Swiss-Shop, Rado). "Together with our Karstadt exclusive brands, we now have brought a comprehensive and very wide brand mix to our sales floor", said von Appen. The opening of top chef Johann Lafer's first own shop received particular mention.

The comprehensive range from Fashion, Beauty, Living, Electronics, and Home is rounded off with the fine foods department by Perfetto, Karstadt Feinkost GmbH's grocery market (a joint venture between Karstadt and REWE). This area was already opened last year with great success after the second building phase. To round off the shopping experience, the Le Buffet restaurant offering fresh food on the 6th floor, which was also opened last year, is an inviting place for shoppers to relax and while away the time.

The quiet zones created with generous seating and the lounge areas, such as the "Vanity Fair Lounge" on the 3rd floor with a fantastic view of the Mönckebergstrasse, contribute to the higher quality store ambience. The new, comfortable changing rooms also make for more shopping fun.

The conversion of the Karstadt store on the Mönckebergstrasse was completed in three building phases:
Phase 1 (January - September 2006)
(entrance area, first floor, Fragrances, Watches/Jewelry, Hosiery/Accessories, Confectionary, Stationary, Leather Goods, Travel Agent)
Phase 2 (January - August 2007)
(escalators, groceries, restaurants, household goods/kitchen, curtains/material)
Phase 3 (January - September 2008)
(Men's Fashion, Ladies' Fashion, Lingerie, Children's Fashion, Shoes, Young Fashion, Home Textiles, Multimedia/Electronics, Pharmacy)

Media contact:

Karstadt Warenhaus GmbH
Corporate communications
Michael Scheibe / Martin Schleinhege
Tel.: 0201 / 727-2537
E-mail: michael.scheibe@karstadt.de
 martin.schleinhege@arcandor.com