German retail stores turn back on tradition to survive

Frankfurt

AT Frankfurt's Galeria Kaufhof, the department store's trademark green banners and bags point to 135 years of tradition. To preserve its place on the German retail landscape, the chain is seeking to put history behind it.

"Traditional retail, that's the truth, is dead," Olaf Koch, chief executive officer of Kaufhof-owner Metro AG, said at the company's Dusseldorf headquarters. "Those that protect traditional retail will lose."