Acccording to Wolfgang Friedrichs, CEO of Germany's Amtraks and Replay Germany, Amtraks will not join Fashion Box S.p.A. as announced earlier. The reasons for the decision are different opinions concerning the mid- and long-term company strategy with new CEO and majority shareholder of Fashion Box S.p.A., Matteo Sinigaglia. "We worked together quite well for some time, but in the end we had too many different opinions concerning different issues. So I decided not to get involved financially. Nevertheless we remain on friendly terms," Wolfgang Friedrich said.

Friedrichs has set the course for Fashion Box’s distribution for the future during the first quarter of the year, but now will concentrate on the German market. He will remain in the position of CEO of Replay Deutschland GmbH.

Just a few days ago, Fashion Box denied rumors of some 100 job cuts. Sinigaglia on the contrary said instead he plans to further expand the company’s reach, starting in the Far East.

-Susannah Carey