Vögele Shoes has a new owner. German cm.shoes announced its purchase of the Swiss retailer on June 3rd, from the previous owners (Polish group) CCC. The operation also involved German investment firm GA Europe, but no other details are available. Vögele Shoes’s new owner has stated that it plans on maintaining the brand, widen the offer for the Swiss market and strengthen the digital channel.
Vögele Shoes has a new owner
On June 3rd, as reported by telebasel.ch, cm.shoes purchased the Swiss retailer from the Polish group CCC. GA Europe, which is the German operation of US-based Great American Group, was also involved. The new owner “wants to lead Vögele Shoes to a more digital future”, explains an official note. The brand should survive the acquisition and its product lines will adapt to the Swiss market.
Pandemic forces stores to close down
Telebasel.ch also writes that over the last year and a half, due the pandemic, Vögele Shoes was forced to close down many of its retail points: it now has 116 of them. At the same time though, the digital channel grew, and is now worth 15% of all sales. The sale by CCC Group was due to an alleged expansion strategy into Central and Eastern Europe by the Polish. In Switzerland, on the other hand, the latter will continue to conduct its business via online platform eschuhe.ch. Vögele Shoes will continue to collaborate with CCC, reports the Swiss news outlet.