OVS (company)
| OVS SpA
|
|
|---|---|
 |
|
| legal form | Società per azioni |
| ISIN | IT0005043507 |
| founding | 1972 |
| Seat |
Venice , Italy
|
| management |
|
| Number of employees | 6,821 |
| sales | EUR 1.52 billion |
| Branch | Textile industry |
| Website | www.ovs.it |
| As of December 31, 2017 | |
OVS is an Italian textile and fashion company based in Venice , part of the Italian Coin SpA .
history
Italy
OVS was founded in 1972 as Magazzini Oviesse .
In September 2014, OVS announced that the company would be listed on the Milan Stock Exchange . The IPO is to bring Oviesse around 250 million euros, with the help of which debt is to be reduced and new branches to be financed.
Germany
With the takeover of the loss-making department stores of Kaufhalle AG (sales channels: Kaufhalle, M. multistore) in September 2000, Oviesse entered the German market. In return for a payment of DM 64 million from Divaco , Oviesse had 98 department stores, two logistics centers and a head office. The real estate was not included in the purchase. At that time, the 5000 employees generated sales of around DM 1.4 billion. Oviesse wanted to invest around 300 million DM in the modernization of the houses in the following years. In addition, Oviesse expected restructuring costs of around 100 to 150 million DM. While Oviesse was delivering the textiles, all other products were to be obtained from Deutsche Woolworth . The unused land should at food retailers and supermarkets are rented. After this restructuring, the turnover of the department stores fell to 267 million euros by 2002 and the number of department stores to 92. At that time, 30 department stores had been converted to the new concept. After a transition period, textile products adapted for the German market were delivered.
Due to the losses and the difficult market situation, Oviesse decided to sell 75 percent of the houses in the medium term, as there is only a need for around 40 houses in Germany. Just three months later, Oviesse announced that the leases had been canceled for 71 department stores and that only 17 stores would continue to operate. A redundancy plan is being negotiated for the approximately 1,600 employees affected . For the premature termination of the branches, Oviesse had to pay a gap of around 50 million euros to Kaufhalle AG . But the remaining 17 stores were not profitable either and so Oviesse left the German market in 2004. Overall, the expansion effort has brought the parent company Coin SpA considerable financial losses.
Switzerland
The Swiss retail chain Magazine zum Globus was looking for a new strategy for its 30 Au-Bon-Marché branches. She decided to become an Oviesse franchisee and redesign the branches accordingly. Estorel drugstores and Nannini coffee shops were found as tenants for the retail space that was not required .
The business figures for 2002 were below expectations. It was said that this was due to the low level of awareness of Oviesse and the reluctance to buy among the Swiss population at the time. Globus gave Oviesse time to become profitable until 2004. However, the year 2003 and the first half of 2004 did not go well for Oviesse either, so that Globus began negotiating an exit from the Oviesse franchise in the second quarter of 2004. At the same time, the 30 Swiss locations were made available. After the end by Globus, C&A took over the Oviesse branches and converted them into C&A branches.
In October 2016, the insolvent Swiss company Charles Vögele was taken over by OVS via Sempione Retail AG, as announced.
After taking over Charles Vögele, OVS invested more than 40 million francs in the renovation and modernization of the sales areas. Which means OVS was again represented in Switzerland in 2017. Just two years after the takeover, in June 2018, OVS (Sempione Fashion) announced bankruptcy in Switzerland. It is currently in debt restructuring moratorium. At the end of July 2018, the last OVS branch in Switzerland closed its doors.
Web links
- OVS brand website
- OVS SpA website (Italian, English)
Individual evidence
- ↑ ovscorporate.it - Board of Directors
- ↑ ovscorporate.it - Annual Report 2017
- ↑ Department store group Oviesse goes public. In: Handelszeitung . September 4, 2014, accessed July 26, 2015 .
- ↑ Italian retail chain Coin takes over German department store. In: Handelsblatt . September 14, 2000, accessed July 26, 2015 .
- ↑ The old department store branches are now quickly becoming Oviesse stores . In: Frankfurter Allgemeine Zeitung . tape 44 , February 21, 2001, p. 22 .
- ↑ Comeback for the department store. In: Handelsblatt. January 30, 2003, accessed July 26, 2015 .
- ↑ a b c Italians put three quarters of the locations up for sale. In: Handelsblatt. August 14, 2003, accessed July 26, 2015 .
- ↑ Expensive knowledge . In: Frankfurter Allgemeine Sonntagszeitung . tape 10 , March 10, 2002, p. 37 .
- ↑ Leases for 71 former Kaufhalle branches terminated . In: Frankfurter Allgemeine Zeitung . tape 253 , October 31, 2003, p. 14 .
- ↑ 1600 terminations: Textile dealer Coin ends adventure in Germany. In: Spiegel Online . October 30, 2003, accessed July 26, 2015 .
- ↑ After the debacle in Germany, the family had to sell Coin . In: Frankfurter Allgemeine Zeitung . tape 73 , March 30, 2005, pp. 18 .
- ↑ Unions negotiated social plan for ABM employees. In : wirtschaft.ch . January 24, 2002, accessed July 26, 2015 .
- ↑ Gret Heer: Globus Group: Globus has the heights fever. In: Handelszeitung. February 4, 2003, accessed July 26, 2015 .
- ↑ Globus ends the Oviesse experiment. In: Neue Zürcher Zeitung . June 30, 2004, accessed July 27, 2015 .
- ↑ Gret Heer: Globus Group: "Do we need an ABM again?" In: Handelszeitung. June 30, 2004, accessed July 26, 2015 .
- ↑ C&A takes over Oviesse locations from Globus. In: Neue Zürcher Zeitung. July 17, 2004, accessed July 27, 2015 .