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An already struggling new discount store is heating up competition in Switzerland even further. A few weeks after Dutch low-cost retailer Action announced its intention to expand in Switzerland, another low-cost retailer Stokomani is looking to cast its net in Switzerland.
According to the first news of Konsider portal, Stokomani opened its first branch in Switzerland in Conthey VS on November 8. Although its name is not yet fully known in this country: Founded in 1961, the company is one of the largest companies in the “discount stores” sector in France. The principle is similar to that of outlet stores: in the case of Stokomani, unsold products from wholesalers in the fields of fashion, hygiene and beauty, decoration, household goods, toys and seasonal goods are taken over and resold at a low price. Own branches at low price.
Among other things, you can find branded products similar to Otto’s in Switzerland or TK Maxx in Germany at very affordable prices, some with discounts of up to 70 percent.
Stokomani has 145 branches and 3,200 employees in France and achieved sales of 745 million euros in 2022. The branch in Conthey is the first branch outside France and is close to opening in Belgium in 2024.
What does Groupe Zouari plan to do in Switzerland?
However, Stokomani’s sister companies are already located on Swiss territory. Because Stokomani belongs to the Zouari family office. The Paris-based company, headed by Moez-Alexandre Zouari (52), operates in the real estate sector, is the main trading partner of French retail giant Groupe Casino and the majority owner of many discount stores. This includes Stokomani as well as Maxi Bazar.
And Zouari has been in Switzerland with this brand for several years. Today there are 20 Maxi Bazars in Switzerland. At first they were only in French-speaking Switzerland, but now they were also in German-speaking Switzerland. Currently in Dietlikon ZH, Winterthur ZH, Langenthal BE, Lyssach BE, Ostermundigen BE, Lucerne, Zug and Basel.
Should Stokomani also expand rapidly? The signs are good: given the declining purchasing power of the Swiss, now is the time for discounters.
However, the Zouari Group has not yet commented on Switzerland’s plans with Stokomani. In any case, the group has knowledge of the Swiss market. And this will help Stokomani reach its one billion euro sales target by 2027, as reported in the French media.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
