Overview

• A report by Der Aktionär alleged LeGer owes about €30 million to partner About You, triggering sensational headlines.
• Gercke says the liabilities are internal partner loans with contractual subordination, repayable only from future profits and not bank debt.
• Company filings show losses of €11.6 million in 2022 and €15.7 million in 2023 after a 2021 shift to self-financing during the pandemic, with weak demand and supply issues cited by Gercke.
• LeGer pivoted in 2023 from preproducing for direct online sales to supplying retailers and platforms based on orders, lowering risk and inventory exposure.
• Gercke reports 2024 revenue of €11.2 million with roughly €1 million in net profit, and notes the brand was founded in 2017 with About You holding a significant stake reported at 40%.