FLENSBURG, Germany - Adult retail chain Beate Uhse said it is switching gears in order to capture tomorrow's market and rebound from a downturn in 2007.
The Local, an online magazine, reported that the retail giant experienced a net loss of 13.2 million euros ($20.8 million) in 2007, down from taking in 10 million euros ($15.8 million) in profit in 2006.
"This medicine, no doubt, tasted a little bitter, but I am convinced that it will make Beate Uhse fit for the future," Beate Uhse owner Otto Christian Lindemann said on the company's website.
Beate Uhse is implementing plans to extend its wholesale division to compensate for a declining DVD market, build successful private labels for toys and expand its range of lingerie.
"Our extensive restructuring measures mean that we have laid a foundation for further expansion," Lindemann said.
In addition to expanding its range of sex toys and lingerie to cater more to women and couples, Beate Uhse plans to focus its store network in two shop concepts, extend its presence in Europe, expand its e-commerce activities and offer exclusive high-quality lines via its distribution channels.
For more information, visit the press-release section of Beate Uhse's website.
