The bang came last week: Vögele Shoes are being sold. The shoe chain is now owned by the German Cm.shoes GmbH and the Munich financial investor GA Europe. This has an impact on the Swiss location of the shoe chain based in Uznach SG.
The longtime Vögele Shoes boss and CFO Max Bertschinger will stay on board. The big clearance sale has started. “Everything has to go, that’s the motto for the next few months,” reports the “NZZ”. Under the previous owners, the range was not geared enough towards Swiss customers, and this is now being corrected, ”says Bertschinger.
Closing branches, staff have to go
The consequences for the staff: A reduction of 20 to 30 jobs. There are currently around 600 employees at Vögele Shoes. Downsizing also at the locations: The decision has been made to close 36 additional branches in Switzerland. Only 80 locations remain. Ten years ago the shoe chain had 300 branches.
The second largest Swiss shoe retailer was in crisis long before Corona. In the financial year from January 2020 to January 2021 alone, Vögele Shoes made a loss of around 37 million francs, writes the “NZZ”. Sales collapsed by around 30 percent to just under 112 million francs.
The shoe chain also suffers from competition from online retailers such as Zalando and the number one in the Swiss market, the German chain Dosenbach-Ochsner. That is why Vögele Shoes now wants to strengthen its online business, as Bertschinger has announced. (uro)
Published: June 5th, 2021, 1:59 p.m.
Last updated: 06/05/2021, 3:39 pm