Gordon Brothers, seen as a reliable partner to the OVS group, was approached to help sell-out inventory from 145 Charles Vögele Swiss stores.
By the numbers
In 2016, Charles Vögele closed many of their loss-making stores, but could not prevent falling into insolvency in the Netherlands in early 2017. At the same time, Sempione announced their strategy to focus on core markets, such as Switzerland, Austria and Hungary.
In Switzerland, the core and most successful market, management took the decision to refurbish and re-open its stores under the OVS fascia.
Having worked for OVS previously, Gordon Brothers was approached to help sell-out the inventory from the Charles Vögele Swiss stores. Swiss summer sales made it a difficult sell-out, but results were guaranteed both operationally and financially. This left OVS management able to fully concentrate on the on-going business.
With staggered timelines over a 22-week period, Gordon Brothers sold all inventory from 145 Swiss stores, overachieving financial results and leaving stores broom-clean in preparation for the refurbishment.