Strong franc lead to consolidated loss, Charles Vögele

30 Aug '11

4 min read

Greater modernization
The new market image emphasizes Charles Vögele's more modern approach. At the same time, Charles Vögele has doubled the number of collections from four to eight per year, so it is now presenting a new collection in its stores every six weeks. The Group has expanded its range to include shoes, accessories and lingerie. The Online Shop was also launched in the first half of 2011 with partial ranges offered in Switzerland, Germany and Austria. From autumn 2011 the whole collection will be available, and the Online Shop will be available in the Benelux countries too.

Centralization of logistics
During the period under review, Charles Vögele relocated its logistics operations to two modern regional distribution centres in Germany and Austria. Goods distribution for the whole of the EU is now managed from these two locations. Both distribution centres are equipped with state-of-the-art storage technology, and the one in Austria also offers integrated e-commerce processing. After a challenging start-up phase, the centres will significantly increase the speed and flexibility of goods supply.

Market environment remains demanding
Rigorous implementation of the modernization strategy continues. However, the full impact of the new approach is requiring more time than originally planned. Given the current foreign exchange and market environment, it will not be possible to break even in 2011.

Charles Vögele Group is one of Europe's leading vertical fashion retailers. It offers the latest fashions at great prices to people in the prime of their lives who want to feel good. With attractively presented goods, combined with friendly, knowledgeable advice, it creates a relaxed and enjoyable shopping experience.

Charles Vögele Group

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