The European trade publication Fotowirtschaft (“Photo Business”) reports three major photo groups have combined under one operating structure. As of July 1, Ringfoto GmbH & Co. ALFO Marketing KG, Europafoto, and Photo-Porst dealers, under the umbrella of United Imaging Group GmbH & Co. KG (UIG). By contrast, FOTOCO Fotohandelsgesellschaft mbH & Co. KG, headquartered in Eschborn, was dissolved and trading business terminated at the end of last month.
Ringfoto shareholders agreed at their meeting on June 22 by a majority of renaming of Ringfoto GmbH & Co. ALFO Marketing KG to United Imaging Group GmbH & Co. KG. Ringfoto will become the United Imaging Group (UIG) after a short transition period, the article said.
The Ringfoto/UIG management expects in 2020 for the new company with a photo sales of below the line more than half a billion euros, the article said. “The expected sales in 2020 will correspond to a market share of around 40 percent, making the United Imaging Group by far the strongest sales channel in the entire photo industry, said Michael Gleich, CEO.”
Within the UIG, however, the trademarks “Ringfoto”, “Europafoto” and “Photo Porst” continue, ensuring current dealers can continue operating under their existing brands.