Enterstore, operating within the Hartenberg Holding group, has acquired an 80 percent stake in the Dutch men’s fashion brand Joe Merino, according to an announcement by investment group Hartenberg Capital, one of the three partners in Hartenberg Holding. The transaction’s financial terms were not disclosed. The majority stake in Hartenberg Holding is held by SynBiol, a company owned by Czech Prime Minister Andrej Babiš (ANO), while the remaining shares link back to Jozef Janov’s JJ Capital group.
Enterstore Expands Portfolio with Dutch Knitwear Brand
The newly acquired brand, Joe Merino, specializes in men’s merino wool sweaters and was established in 2011 in Amsterdam by Ron Beckers. Today, the brand offers over 50 sweater models spanning more than 60 colors. Its core markets are centered in the Netherlands, Belgium, and Germany.
Unlike many contemporary apparel retailers, Joe Merino operates under a strict no-discount policy. According to company statements, the label never runs sales, clearances, or seasonal collections. Furthermore, it avoids wholesale channels and refuses to distribute its products through online marketplaces, relying instead on direct consumer engagement.
Did you know? Joe Merino avoids traditional retail avenues entirely, refusing to use third-party online marketplaces or wholesale distributors to sell its merino wool products.
Strategic Vision for European E-Commerce Growth
“Joe Merino je přesně tím typem značky, který hledáme – má jasnou nabídku, skutečnou kvalitu produktu a zákazníky, kteří se rok co rok vracejí, protože důvěřují tomu, co kupují,” said Elisabet Sandströmová, CEO of Enterstore, highlighting the brand’s clear product offering and loyal customer base. Sandström noted that Enterstore plans to actively develop the brand within the e-commerce sector and strengthen its footprint across the broader European market.
This acquisition integrates Joe Merino into a growing portfolio of consumer brands managed by Enterstore. Other entities under the Enterstore umbrella include the online lingerie retailer Astratex, wool product seller Ovečkárna, wooden goods brand Čisté dřevo, sports equipment seller Sportega, children’s goods provider KinderKraft, and textile firm unuo.
Data from Hartenberg Capital indicates that the group pulls in annual revenues totaling 270 million eur, which translates to roughly 6,5 miliardy korun. Ownership structures within the holding reveal that Hartenberg Capital previously held a 10 percent stake in Enterstore, while Hartenberg Holding controlled the remaining 90 percent.
Ownership Structure and Financial Backing
The ultimate ownership layers involve multiple corporate entities. According to the Czech Commercial Register (Sbírka listin), Prime Minister Andrej Babiš holds an 87.75 percent stake in Hartenberg Holding via his firm SynBiol. Hartenberg Capital retains a 10 percent share, and JJ Capital, a.s. owns a 2.25 percent slice. Hartenberg Capital itself falls under the JJ Capital group, which is owned by Jozef Janov.
By keeping the original founder onboard and maintaining the strict no-discount pricing model, the new ownership group aims to scale the brand’s digital presence.
Frequently Asked Questions
Who owns Joe Merino now?
Enterstore, which is part of the Hartenberg Holding group, acquired an 80 percent stake in Joe Merino. Prime Minister Andrej Babiš holds a majority stake in Hartenberg Holding through his company SynBiol.
What makes Joe Merino’s business model unique?
The brand strictly avoids sales, clearances, and seasonal collections. It also does not use wholesale channels or third-party online marketplaces.
Who founded Joe Merino and is he still involved?
Ron Beckers founded the brand in Amsterdam in 2011 and remains a shareholder following the acquisition by Enterstore.
What other brands belong to Enterstore?
Enterstore manages several brands, including Astratex, Ovečkárna, Čisté dřevo, Sportega, KinderKraft, and unuo.
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