CCC, the Polish-based chain of shoe and leathergoods stores, is entering the Swiss shoe market by taking a majority stake in Karl Vögele, the Swiss shoe retailer. As reported by both companies, NG2 Suisse, a subsidiary of CCC, has acquired 70 percent of the shares, which were previously held by Kavo Holding. The purchase price has been reported at €8.5 million. Max Manuel Vögele, chairman of the board, remains a shareholder of Karl Vögele, increasing his own stake from 10 to 30 percent and keeping his current position. Together with Adrian Grossholz, chief executive officer, he will focus on the repositioning of the company. Karl Vögele is currently represented in Switzerland with more than 200 stores. Net sales amounted to €147 million in 2017. Karl Vögele is the parent company of Vögele Shoes, Bingo Shoe Discount and Max Shoes. The company is independent of Charles Vögele Holding as well as of Vögele Shoes in Austria, which was sold in November 2015 to LMC Schuhe Austria, a subsidiary of Lafayette Industrieholding.