The Swiss clothing group, Charles Vögele, has acquired 106 shops from the Dutch company, Vendex KBB, for SFr87.1 million ($48.9 million). The Swiss company said it would take over the outlets next January.
Vögele said the acquisition marked the fulfilment of its intentions, announced last August, to extend its activities in Belgium and The Netherlands. It brings its network of branches in the two countries to nearly 150.
Vögele said the type of shop it would take over in The Netherlands fitted its own concept perfectly. It said they had an average surface area of 640 m2 and were all situated in shopping centres or in small and medium-sized towns.
The company said it intended to make a turnover of about SFr150 million ($84.3 million) in its new branches in The Netherlands next year. That should boost Vögele's share of the Dutch market to just over two per cent.
Vögele's net turnover rose 27.7 per cent to SFr691 million ($388 million) in the first half of the year, helped by activities in Germany.
The clothing group is also present in Austria, although Switzerland remains its strongest market. Vögele accounts for 47.2 per cent of clothes sales in Switzerland.
swissinfo with agencies