27 June 2019
The Weekly
Switzerland

Migros Group has launched a call for buyers for four subsidiaries including upscaled department store Globus. The Migros Group announced that it is pursuing a strategic reorientation that involves selling off well-known brand subsidiaries including Globus department stores, furniture chain Interio, e-bicycle distributor m-way, and interior design subsidiary Gries Deco. While these are familiar brands in many Swiss cities, they represent a rather small portion of the Migros business, which includes everything from supermarkets, fitness centres, and banks. The strategic shift will focus on expanding its convenience segment, digital distribution channels, and its presence in the healthcare sector The focus on high-end products has moved Globus – which has been under Migros’ control since 1997 – away from the key priorities of the Migros Group. The Migros Group generated sales of CHF28.5bn ($29bn) in 2018. The company currently has 106,622 employees making it one of the largest employers in Switzerland. Some 3,100 employees work for Globus.

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