maconda supports mid-market investor Odewald KMU in the exit of premium traditional costume manufacturer Spieth & Wensky
maconda News June 2025
maconda, the experts in market analysis and Commercial Due Diligence, once again supported Odewald KMU with a market study during the sale of its majority stake in Spieth & Wensky. Spieth & Wensky from Obernzell near Passau is the market leader in traditional costume fashion and has been the official traditional costume outfitter of FC Bayern München for over 15 years.
Back in 2013, maconda consultants—highly experienced in apparel, retail, and niche markets—supported the Berlin-based mid-market investor Odewald KMU in the majority acquisition of Spieth & Wensky from the founding families through a comprehensive Commercial Due Diligence. A particular challenge was that virtually no market data exists for the specialized traditional costume market. While Spieth & Wensky serves a fashionable mainstream target group, the second brand “Beckert Manufaktur” targets buyers of premium leather traditional costumes—a segment for which data is even more scarce. This has not changed in 2025.
Against this backdrop, in preparation for the current exit, maconda once again surveyed not only various industry experts but primarily the direct target group—namely, traditional costume fashion retailers—regarding trends, expectations, and Spieth & Wensky itself. This yielded valuable insights, including for strategic issues and thus extending well beyond the M&A transaction. Above all, it provided a very positive assessment of the brands and their performance.
About Spieth & Wensky
Spieth & Wensky was founded in 1913 in Obernzell, Lower Bavaria, between Passau and the Austrian border. Production, showroom, and the highly attractive factory outlet are still located here. Spieth & Wensky is a full-range supplier of traditional costumes and country house fashion, offering shoes, for example. The focus is on “passion for Bavarian tradition and regionality,” combined with a creative, modern approach based on natural materials of high quality and excellent workmanship. Distribution is through specialized retail, eight company-owned stores, and an online shop.
About Odewald KMU
Odewald KMU invests in attractive target markets in the German-speaking Mittelstand and has a clear focus on fast-growing, service-oriented business models in fragmented markets. Typical investment occasions are succession and/or growth financing. Additional growth and thus value creation is achieved through the successful implementation of Buy & Build strategies. The companies typically generate revenues of up to €100 million, have entrepreneurially oriented management, are operationally very successful, and occupy a market-leading position in the relevant market niche. Equity investments range between €10 and €30 million per transaction.
maconda—comprehensive expertise in consumer goods, apparel, and retail
The maconda team has comprehensive expertise in consumer goods, apparel, and retail including eCommerce. The consultants have successfully completed countless projects in numerous consumer goods segments along the value chain, in manufacturing as well as in retail—primarily Commercial Due Diligence, strategic realignment, and operational performance improvement.
Extensive experience with consumer goods: various apparel segments | durable consumer goods of all kinds | diverse niches | specialty retail in many industries | department stores | furniture stores | eCommerce | omnichannel | social media | brands | lifestyle products | gift items | food of all kinds | and much more
Specialized experience in the apparel and textile industry: women’s outerwear | menswear | pants | denim | traditional costume fashion | underwear | workwear for various target groups | knitwear | technical textiles | cashmere fashion | home textiles | fabrics and interlinings | trims | sewing needles | upstream | apparel technology | contract manufacturing | complementary assortments such as shoes, bags, sunglasses, fashion jewelry, and other accessories
Know-how in retail concepts and forms of space management: vertical concepts | store chains | boutiques | department stores | eCommerce and omnichannel | shop-in-shops | concessions | textile discounters | shopping centers | factory outlets | franchise systems | teleshopping
About maconda
For more than 20 years, maconda has provided support in company acquisitions, performance optimization, and restructuring. With over 800 consulting and implementation projects and more than 450 transaction-related engagements, maconda has comprehensive experience in pragmatically managing even demanding projects. Clients include mid-sized companies, business units of large corporations, and international private equity investors and family offices.
maconda industry expertise: consumer goods | food | apparel & textiles | retail & eCommerce | packaging & filling | B2C and B2B services (incl. business process outsourcing) | future technologies | manufacturing companies | construction-related products and services
maconda core topics: Commercial Transaction Services | performance management | business model optimization