The Global Mid-Market Specialist
Zurich – Alantra acted as exclusive financial advisor to Karl Vögele AG, the second largest shoe retailer in Switzerland with 209 stores across the country, on the sale of a 70% stake to CCC Group, one of the largest and most dynamically growing players in the European footwear and accessories’ market,
The remainder of the shares will be held by Max Vögele, the Executive Chairman. The integration into CCC Group, which generates annual sales of around EUR 1bn, opens up the opportunity for KVAG, to stabilize and then significantly grow again in Switzerland. The business combination also offers excellent opportunities especially in the online sector.
In a recent statement published by KVAG, Max Manuel Vögele, Executive Chairman, said: “We are extremely pleased to have found a strong partner in CCC Group, a leading, fast-growing and financially strong company, which will enable KVAG to lead the strategy initiated in recent years to lasting success. Thus, we have made a responsible decision for the future, for our customers as well as for our employees and business partners.”
Karl Vögele AG, headquartered in Uznach, is a Swiss shoe retail company with a family history of almost 100 years. The business offers women’s, men’s, children’s and sports shoes in complementary segments. The group employs under its brands Vögele Shoes, Bingo Shoe Discount and Max Shoes around 1200 people in 209 locations and operates an successful online business. Being one of the most important suppliers in the Swiss footwear market the firm shows revenues of CH 172 mn.
The CCC Group is the largest footwear retail company in Central Europe and the largest footwear manufacturer in Europe. The company has 1,000 stores and operates in 20 countries in Europe. Apart from that, the CCC Group produces leather shoes in its own factory in Poland and employs c. 13,000 employees. The CCC Group revenues reached EUR 1 billion in 2017.
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