Wolfgang Grupp net worth

Wolfgang Grupp assets

Capital:	€ 10.5 million
Age:	78
Born:	04/04/1942
Country of origin:	Germany
Source of wealth:	Entrepreneurs
Last updated:	2022

Brief introduction

Wolfgang GroupP is a businessman from Germany, owner and director of the executive in the third generation of the famous Trigema textile company.

Youth

Wolfgang Groupp was born in Burladingen to become a conservative Catholic businessman’s family. He is a student in the Jesuit College St. Blasien and graduated from high school in 1961. He decided to study business administration at the University of Cologne. 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 Groups Josef Mayer and his brother Eugen with the name Trikotwarenfabrik Geb. Mayer KG in 1919. Wolfgang Groupp’s father, Franz Groupp, is a partner of the company’s manager.

Career

When Wolfgang Groupp took over Trigema from his father in 1969, the company was very owed. He analyzed the company’s structure and decided to return to the company’s roots. The group sees the problem in high diversification of the ranks of the product and reduces it. Through the company’s restructuring, it can increase sales from 8.7 million to 28.1 million in the next six years, thus paying off the company’s debt. This is the beginning of an increase in the company. Until now, the company works with an equity of one hundred percent. The concept of Trigema is based on innovation and products with regional and fair production methods. Production according to fashion trends, however, is a secondary interest for the company. Trigema is the only German company that only produces in Germany and has not revealed any part of the production chain to a cheaper foreign country. The company acts as a pioneer for the principle of cradle-to-cradle more than 10 years ago and expands the proportion of articles made from organic cotton. The role of this pioneer allows trigema to expand its profile. In addition, all textiles are designed in Burladingen, where the company is located, and production takes place exclusively in Germany. Wolfgang Groupp currently has around 1,200 employees. All employees get above the Legal Minimum Wage and GroupP guarantee that all children of their employees work in Trigema who are subject to the contribution of social security. Trigema products can be found in our own online stores and in our own Trigema shops. The company also produces company customers based on orders. Because the group has taken over the company, there is no short job and there is no layoff. His two children, Bonita and Wolfgang Junior, both worked in the leading position in Trigema. His wife Elisabeth will decide which child will lead the company as the director of the future. In addition to his work as a textile entrepreneur, the group is very socially committed. With his wife, he founded “Wolfgang and Elisabeth GroupP Foundation” and thus supported the project and people in need in his home region, Burladingen. There are several television documentary films about Wolfgang Groupp and Trigema’s company.

Career spotlight

The Wolfgang GroupP company is the largest German recreational and sports clothing manufacturer in Germany. In 2019, he received a grade 1 of the Federal Merit Cross from the Prime Minister of Baden-Winjemberg Winfried Kretschmann, as part of the 100th anniversary of Trigema. For their rhetorical skills, Wolfgang Groupp received the Cicero Speaker Award in the business category in 2005. GroupP is known nationally through television advertisements with chimpanzees, “Trigema Monkey”.

Famous quote

“The fact that we have to introduce the minimum wage in Germany at all embarrassing for US entrepreneurs.”

“I’ll stay here until I die.”

Tips for success
In an interview, Groupp revealed its secret about success:
1. The group continues to rediscover itself and its company and adapt the company’s strategy to changing markets.
2. The group pursues a fair salary, flexibility, and independence in the company.
3. He does not focus on growth in the amount of production, but in innovation.
4. GroupP uses itself as a brand ambassador and runs several marketing campaigns at high prices.