Swiss-based Charles Vögele had to deal with a 2.6 % net turnover drop in 2013, compared to the year before. Despite positive signs in the Benelux, net turnover dropped to 947 million Swiss francs (777 million euro).
Positive Benelux results
Strong drops in core markets Germany and Switzerland resulted in an overall drop, even though the second part of the year was promising with a 1.1 % growth. However, the first part of the year was quite a large drop, with a 4.5 % downfall.
The like-for-like revenue in the Benelux area experienced a 2.9 % increase in 2013 and was the third year in a row with an increase. Central and Eastern Europe also has a slight like-for-like turnover increase, with 0.7 %.
Charles Vögele decided to move out of several markets and since February 2014, the brand has left the Czech Republic, with Poland to follow by mid-2014. The company did however confirm it would remain present in Hungary.