Wolfgang Grupp Net Worth
| Capital: | € 10.5 million |
| Age: | 78 |
| Born: | 04/04/1942 |
| Country of origin: | Germany |
| Source of wealth: | Entrepreneurs |
| Last updated: | 2020 |
Short introduction
Wolfgang Groupp is an entrepreneur from Germany, the owner and managing director in the third generation of trigema famous textile companies.
Early life
Wolfgang Groupp was born in Burladingen to become a family of conservative Catholic businessmen. He is a student at Jesuit College St. Blasiaen and graduated from high school in 1961. He decided to study business administration at Cologne University. After completing a bachelor’s degree in business administration, he took over the management of his father’s company, Trigema. Trigema was founded by Grandfather Grupps Josef Mayer and his brother Eugen with the name Trichotwarenfabrik Gebr. Mayer Kg in 1919. Father Wolfgang Grupp, Franz Grupp, is the company’s management partner.
Career
When Wolfgang Groupp took over Trigema from his father in 1969, the company was very oweing. He analyzed the company’s structure and decided to return to the company’s roots. Groupp sees problems in high diversification of various products and reduce it. Through the company’s restructuring, he could increase sales from 8.7 million to 28.1 million in the following six years, so it repaid the company’s debt. This is the beginning of the company’s upswing. Until now, the company works a hundred percent equity. The concept of trigema is based on innovation and products with regional and fair production methods. However, production in accordance with the fashion trend is secondary to the company. Trigema is the only German company that only produces in Germany and has not carried out outsourcing parts of the production chain to cheaper foreign countries. The company acts as a pioneer for the cradle-to-cradle principle more than 10 years ago and expanded the proportion of articles made of organic cotton. This pioneering role allows trigema to expand its profile. Furthermore, all textiles are designed in Burladingen, where companies are located, and production takes place exclusively in Germany. Wolfgang Groupp currently has around 1200 employees. All employees income on the minimum wage of Law and Groups ensure all employees of their employees in Trigema are subject to social security contributions. Trigema products can be found in our own online store and at our own trigonomile store. The company also produces for corporate customers to order. Because Groupp has taken over the company, there is no short work and no layoffs. His two children, Bonita and Wolfgang Junior, both worked in a leading position in Trigema. His wife Elisabeth will decide which one will lead the company as an implementing director in the future. In addition to his work as a textile entrepreneur, Groupp is very socially committed. With his wife, he founded “Wolfgang and Elisabeth Grupp Foundation” and thus supported the project and people in need in his home region Burladingen. There are several television documentaries about Wolfgang Grupp and Trigots company.
Career highlights
Wolfgang Groupp Company is the largest German recreational and sports clothing manufacturer in Germany. In 2019, he received a grade 1 federal cross from Prime Minister Baden-Württemberg Winfried Kretschmann, as part of the 100-year anniversary of Trigema. For his retoric skills, Wolfgang Groupp received the Cicero speaker award in the business category in 2005. Groupp is known nationally through television advertising with chimpanzees, “Monkey Trigema”.
Success tips
In an interview, Groupp revealed the secret of his success:
- Groupp has constantly re-created itself and its company and adapted its company’s strategy to the changed market.
- GroupUp pursue fair salaries, flexibility, and independence in the company.
- He does not focus on the growth of the production number, but in innovation.
- Grupps uses itself as a brand ambassador and runs several marketing campaigns at high prices.
