SWISS knitter of women’s hosiery Fogal, that declared a net loss of CHF 4m for its 2015 fiscal year, saw its debt burden rise to over CHF 55m. CEO Renate Millauer-Lang said that a turnaround could not be expected until 2018 at the earliest. The company is to focus on its retailing activities to reach its objectives. A 30m2 standalone store is opening in Munich, with other stores in Geneva and Lausanne to follow shortly.
While the brand remains powerful in Switzerland, its strength elsewhere, even in Germany, remains to be proved beyond doubt.