Finance

Blokker CEO Witteveen steps aside from impending IPO

With the change of management, continuity in the organization is guaranteed, the company reports. Mirage is gearing up for an IPO sometime next year.

Tropic years

Investors expect a director to commit to a company for a number of years after the IPO. Witteveen (now 67) thinks he is too old for that, he explains in NRC and the FD. It is better to have a driver with an expiration date that is a bit further away, he says.

In addition, the CEO says he has had ‘tropical years’ and his wife now also wants to do something fun.

Enter Dirk-Jan Stoppelenburg. The former CEO of fashion brand Scotch&Soda has been involved with Mirage since 2019, when entrepreneur Witteveen took over the Blokker Holding from the Blokker family.

On to the fair

The intention is for Stoppelenburg to focus in the coming years on creating profitable growth, further innovation, acquisitions and establishing a successful listed company.

Witteveen will become chairman of the supervisory board after 1 February and will of course remain closely involved in the retail group as owner.

Witteveen has not been idle in the past two years. After the takeover of Blokker Holding, he divested several retail chains and bought a few more. For example, last year he bought the white goods stores of BCC from the French Fnac.

Four chains

Mirage made a profit of 57 million euros last year on a turnover of 628 million euros. The year before, the company recorded a loss of 144 million euros. However, the net profit for 2020 is due to an extraordinary income.

The company now houses four chains; Blokker, Big Bazar, Intertoys and BCC. The starting retail company Miniso is also part of it. Mirage has a total of 847 stores with 9,500 employees.

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