In a major boost to the German fashion sector, Dieter Holzer has been named the new Chief Executive Officer (CEO) of Closed, the Hamburg-based premium denim fashion house. The move comes after Closed was acquired from insolvency proceedings by the family of Marc O’Polo’s owners and Holzer himself. The acquisition was completed early in October 2025, and the new company operates under the CLOSED NewCo GmbH name.

A Strategic Buyout

Closed, founded in 1978, has been renowned for its quality denim and classic designs for years. While it suffered financially, which led to the company filing for insolvency back in August 2025, the core business of the brand continued to be profitable. The takeover by the Böck family and Holzer is intended to reinvigorate the brand and guide it toward sustainable development.

The Böck family has a 74.9% interest in the new entity, and Holzer holds 25.1%. Holzer’s appointment adds depth of experience to the new company. He was most recently the CEO of Tom Tailor and has worked with Marc O’Polo, Tommy Hilfiger, and Esprit. His considerable experience in the fashion sector puts him in the best position to drive Closed into its future.

Commitment to Independence and Growth

Under the new ownership, Closed will be operationally independent. The brand will maintain its wholesale, retail, online, and outlet businesses from its Hamburg head office. Existing members of the management team, such as Chief Product Officer Gordon Giers and Chief Sales Officer Til Nadler, will continue in their positions, with an eye towards stability in leadership.

Holzer stressed the potential of the brand by saying, “Closed is an icon — an authentic brand that inspires desire among customers.” He was confident that the brand had the potential to grow substantially in the next two years, especially in the U.S. market. The DACH region (Germany, Austria, and Switzerland) has also been identified as a focus area for short-term growth.

Operational Stability and Future Outlook

In spite of the difficulties caused by the insolvency, the takeover has given a platform for stability. About 330 employees will continue to work with the company, though the number of stores covered under the takeover remains under consideration. Closed’s international subsidiaries remain untouched by the insolvency case.

Financially, Closed earned a last fiscal year revenue of €120 million. The company had a double-digit million-euro loss on an EBITDA basis due to over-indebtedness and debts of approximately €60 million. The new management is determined to restructure the company’s operations and finance in order to return to profitability.

Looking Ahead

The recruitment of Dieter Holzer as CEO is a turning point in the history of Closed. Having a vision for expansion and a passion for upholding the integrity of the brand, Holzer and the Böck family are set to take Closed into the future. With the fashion world evolving even further, Closed’s commitment to quality, sustainability, and innovation will play a vital role in shaping the competitive market.