Retail trade There are to be 140 new Migros stores in conurbations
Migros plans to open 140 new stores in the coming years. According to Migros CEO Mario Irminger, there is "pent-up demand" around the city of Zurich and along Lake Geneva, for example.
15.12.2024, 03:23
15.12.2024, 08:55
SDA
In an interview with "Sonntagsblick", Migros CEO Mario Irminger said that there is potential for new stores in conurbations that have seen significant population growth in recent years. This is the case around Zurich from Baden to Wetzikon, in the Lake Zurich municipalities and in Zurich North.
Migros also sees opportunities for expansion in the catchment area of the canton of Zug and in French-speaking Switzerland, particularly along Lake Geneva. "By 2030, there will be around 200,000 additional households for which Migros is the nearest grocery store," said Irminger. A specialized team is working on finding suitable locations.
Irminger also spoke in the interview about the growth of online retailer Galaxus. Following record sales in 2023, it has grown again this year, in the double-digit percentage range. Last year, Galaxus achieved sales of 2.4 billion Swiss francs in Switzerland.
Galaxus grows in the double-digit percentage range
Despite rapid growth, Digitec Galaxus is in the black "and is on the way to a profit margin of 1.5 to 2 percent in line with the market", said the CEO. The online retailer is hardly feeling the competition from Chinese provider Temu.
The online retailer is also in demand in Germany, said Irminger. Despite the cost-cutting program and group restructuring, Migros is sticking to its growth plans in neighboring countries, as the company announced in September. Migros has made a "substantial amount" available to its subsidiary for this purpose, said the company boss in response to a corresponding question from the newspaper. He did not give a figure. If the online retailer grows in Germany, customers in Switzerland will also benefit, Irminger said in the interview published on Sunday.
