A whole ten years in vain. This is how critics would describe Migros’ external commitment to developing a gym network. Instead of coming out like steel from muscle strength and investments in Co., the pile of money lost grew every year.
Migros Zurich started to establish a network of fitness centers in Germany and other European countries as of 2012. However, the plans failed. At the beginning of 2022, Switzerland’s largest regional Migros cooperative had to admit that it was withdrawing from business.
Losses swept under the table
The loss from commitment was surprisingly large, as the “NZZ” assessment of the annual reports by regional cooperative Migros Zurich shows.
The newspaper writes that Migros Zurich has probably lost more than 150 million francs over the years with its gyms abroad. Migros itself disclosed the loss to the public.
It is true that Migros Zurich regularly publishes media releases about branch openings and showcase projects. However, it is said that he did not issue a press release regarding the exit of business with foreign fitness centers. It is not possible to determine the exact number of losses, as the data in the annual reports are also extremely complex. Migros Zurich did not want to comment on this issue.
Migros has repeatedly been the subject of negative headlines with its overseas commitments. With the latest Digitec Galaxus. Migros’ Swiss Amazon, which is very successful in this country, is not very successful in neighboring Germany. (euro)