Friedrich Knapp, the founder and owner of the “New Yorker” fashion chain, died Friday night at the age of 73. This was announced by the Braunschweig-based company.
“It is with great sadness that we say goodbye to our owner and managing partner, who made New Yorker, through his courageous and visionary actions, one of the largest fashion companies in the world,” wrote managing directors Helene Steiner and Jonas Gnauck in a statement. The entrepreneur leaves behind three children. At first they had “Braunschweiger Zeitung” reported.
Knapp built a global branch network
According to his own information, the textile trading company founded by Knapp currently employs about 23,000 people and has more than 1,200 branches in 49 countries around the world. “New York” stores can also be found in many city centers in Germany. The business magazine ”Forbes” estimates Knapp’s assets about 4.6 billion dollars, which is currently equivalent to about 4.36 billion euros. The family businessman had arranged succession even after his death. The company said his daughter Sophie Knapp is vice-chairman of the supervisory board.
The Mayor recognizes Knapp’s commitment
The mayor of Braunschweig Thorsten Kornblum (SPD) praised Knapp as an “excellent entrepreneur of Braunschweig”. Knapp has created a success story that many would dream of. Kornblum also emphasized Knapp’s commitment to the city, for example in sports and culture. Supporting children was especially important to Knapp.
More information
How did Friedrich Knapp influence the fashion retail landscape during his career?
Time.news Interview with Dr. Lisa Weber, Fashion Industry Expert
Interviewer (Time.news Editor): Welcome, Dr. Weber. Thank you for joining us today to discuss the impactful legacy of Friedrich Knapp, founder of the New Yorker fashion chain, who recently passed away. His contribution to the fashion industry is significant. What’s your first reaction to the news of his passing?
Dr. Lisa Weber: Thank you for having me. It’s a profound loss, not just for the New Yorker brand but for the global fashion community. Friedrich Knapp’s vision and ambition truly revolutionized how we interact with fashion retail today. His approach to expanding the New Yorker brand across nations was nothing short of inspirational.
Interviewer: Absolutely. Knapp built a remarkable global branch network, with more than 1,200 stores in 49 countries. How did he manage to achieve such expansive growth in a competitive industry?
Dr. Weber: Knapp was not just an entrepreneur; he was a visionary leader. He understood the importance of localization while maintaining a global brand identity. His strategy involved not just setting up stores but creating a cultural connection with customers in each region. This cultural sensitivity, combined with a strong understanding of market trends, allowed New Yorker to thrive in diverse environments.
Interviewer: And let’s talk about his employee base. With around 23,000 employees, what does this signify about his leadership style?
Dr. Weber: Knapp’s ability to employ and nurture such a vast workforce signifies his commitment to growth and sustainability. In the fashion industry, where projects can shift rapidly, his emphasis on building a large, adaptable team reflects his insight into the importance of human capital. Moreover, the positive corporate culture he championed likely played a crucial role in keeping his employees motivated and dedicated.
Interviewer: The managing directors of New Yorker referred to his “courageous and visionary actions” in their tribute. Can you provide examples of what you think they were referencing?
Dr. Weber: Certainly. Knapp was an innovator in aspects of retailing and marketing. He embraced digitalization early on, ensuring that New Yorker kept pace with technological advancements. His decision to incorporate e-commerce into their strategy helped the brand not just survive but thrive during the pandemic. Moreover, his willingness to explore sustainable fashion trends shows his foresight into the shifting dynamics of consumer preferences.
Interviewer: Given his success, Forbes estimated his net worth at approximately $4.6 billion. Do you think this wealth reflects merely financial success, or does it signify a deeper impact on the industry?
Dr. Weber: It’s both, really. While the figure highlights his financial acumen, it also underscores the influence he wielded in shaping fashion retail practices. Wealth in this industry often correlates with innovation and the ability to lead change. Knapp’s wealth suggests that he not only created a successful brand but also an enduring legacy that will inspire future fashion leaders.
Interviewer: As we reflect on his legacy, how do you see New Yorker evolving in the future without his leadership?
Dr. Weber: It’s certainly a pivotal moment for the company. The challenge will be to honor his vision while navigating the rapidly changing retail landscape. The new leadership will need to maintain the balance between innovation and tradition. If they can successfully carry forward Knapp’s ethos—his commitment to quality, accessibility, and inclusiveness—they can continue to thrive while adapting to new consumer expectations.
Interviewer: Dr. Weber, thank you so much for your insight today. Friedrich Knapp’s legacy will undoubtedly serve as a foundation for future generations in the fashion industry.
Dr. Weber: It was my pleasure. Let’s hope that his passion for fashion continues to inspire others for years to come.