Buy Iconic, Distressed Brands for a Euro

“At 8:05 p.m., the Essen district court lifts the insolvency proceedings. With the judge's decision, Nicolas Berggruen is the new owner of Karstadt Warenhaus GmbH as of October 1. Around 40,000 creditors waive two billion euros. The workforce waives 150 million euros. The purchase price for Karstadt is announced as a symbolic sum – Berggruen acquires Karstadt for one euro! The common saying on the street murmurs: "For one euro, I would also buy Karstadt."”

“Even during his studies at the elite Bocconi University in Milan, he founded two start-up companies, which he sold at a high profit. Enter, restore, merge – following this principle, he bought the Italian retail group La Rinascente in 2005 with Investitori Associati, Deutsche Bank Real Estate (RREEF), and Pirelli Re, restructured it, and merged it with the cheaper department store chain UPIM.”