The Swiss company, Charles Vögele - one of the largest retail clothing chains in Europe - is to buy the Kien fashion chain from the Royal Vendex firm of the Netherlands.This content was published on October 6, 2000 - 10:42
Vendex, the main non-food retail trade company in the Netherlands, will sell 106 Kien outlets to the Vögele chain, which already has 22 outlets in the country.
A statement said Vendex and Vögele had signed an agreement in principle concerning the transaction. No financial details were disclosed.
The company said most of the 1,000 Kien employees would retain their jobs, although a limited number would be offered other positions within Vendex.
Vögele, based at Pfäffikon in canton Schwyz, was founded in 1955 and has expanded strongly in recent years. It now has more than 500 outlets in five countries.
Vögele entered the Dutch market in 1998 by taking over 22 outlets of Peek and Cloppenburg.
swissinfo with agencies
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