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Switzerland went after the dogs. Pet supply chain Fressnapf increased its sales in Switzerland last year, the German company announced on Monday. Growth is now increasing the interest in Migros’s real estate, which is offered for sale in the best location!
“Of course we are looking at the Migros space for sale,” Fressnapf Switzerland boss Hermann Aigner tells the “Aargauer Zeitung”. “There are many interesting objects for us.” As a reminder: Travel group Hotelplan, sports retailer SportX, home electronics chain Meelectronics and Mibelle are on sale at industrial company Migros.
There are areas that Fressnapf and others would also like to own, especially in the central locations of SportX and Melectronics. Plus point: The fact that the stores are usually next to or close to Migros branches brings with it a suitable customer flow.
No one wants a Migros subsidiary, but everyone wants a place
Fressnapf Switzerland boss Aigner tells “Aargauer Zeitung” that they want to grow especially in city centres. So far, the chain has been found mostly in agglomerations. Fressnapf has 70 branches and approximately 500 employees in this country. Five more locations will be added this year. The number of branches is expected to increase to 90 in the long term. The basis for growth is Mr. and Mrs. Schweizer’s love for animals: the Swiss population is estimated to own around 600,000 dogs, as well as two million domestic cats.
However, Fressnapf boss Aigner is not the only person interested in the sales areas of Migros’ specialist stores. Coop has also started talks with the competition, as Coop boss Philipp Wyss (58) confirmed in an interview with Blick last week: “We are certainly interested in certain specialist store locations in certain regions, which could possibly be affected by the transformation of Migros.”
A retail space may be opened due to the low probability of finding a buyer who will fully take over Migros’ subsidiaries and continue operating them. What is more realistic is that they will split. For example, in SportX and Melectronics, the competition could only address individual locations. Or buy the entire business and then take it off the market. In both cases, there will likely be branch closures and Fressnapf may close the relevant locations. (page)
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.
