Press review: What the media are saying about the sale of Migros stores
Published: Saturday, Feb 3rd 2024, 15:01
Updated At: Saturday, Feb 3rd 2024, 15:01
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Migros wants to focus more on its core business. It therefore wants to sell the travel subsidiary Hotelplan as well as the cosmetics manufacturer Mibelle, the sports retailer SportX and the electronics retailer Melectronics. This is what the Swiss media have to say:
Handelszeitung: "Migros sell-off - from now on nothing is sacred"
For the "Handelszeitung" newspaper, it is indeed courant normal for a large group like Migros to regularly review its portfolio. However, the fact that it is planning to sell Hotelplan after 89 years in the travel business shows that no area is off limits for Migros - not even the company founded in 1935. Migros has already sold other companies from its portfolio in recent years, but these were not part of the original pioneering work of Migros founder Gottlieb "Dutti" Duttweiler. This change in strategy signals that Migros is prepared to scratch at its own DNA and even dispose of pioneering services. This move also raises questions as to whether, after Imholz and Kuoni, the last major domestic tourism group, Hotelplan, will now also lose its Swissness. In an e-mail to readers, the "Handelszeitung" adds: "When a company has to write off 500 million francs, heads usually roll. Not at Migros. Responsibility is something else."
Tamedia newspapers: "Migros smashes its legacy"
For Tamedia newspapers such as the "Tages-Anzeiger", Migros is destroying its legacy. This shows how serious the situation is. Hotelplan, founded in the 1930s by Migros founder Gottlieb Duttweiler to offer low-cost travel, is up for sale. Mibelle, the third-largest European manufacturer of private labels for body care and cosmetics, is known for Migros bestsellers such as "Handy" washing-up liquid. Migros is also facing the biggest job cuts in its almost 100-year history. It claims that customers will feel little of this restructuring and will benefit above all from lower prices. Popular own brands such as "Handy" washing-up liquid and "I am" hand cream will remain on the shelves, even if they are no longer produced by Migros-Industry but by an external company. Nevertheless, the job cuts will not take place without visible consequences. After all: "What will be left of large MM or MMM stores in particular if they no longer have SportX departments or those of Do it or M-Electronics?"
Neue Zürcher Zeitung: "Migros pays price for complacency and Dutti nostalgia"
According to the "Neue Zürcher Zeitung", the radical restructuring announced on Friday is likely to come as a shock to many "Migros children". The fact that Migros is even breaking with parts of its Duttweiler legacy shows just how far this will go. However, the restructuring was necessary because Migros had basked in its Duttweiler legacy for too long. And many customers and cooperative members had gone along with the nostalgic glorification. This was evident, for example, in the alcohol referendum in 2022, when the members of the Cooperative decided that Migros should continue not to sell alcohol, as it had done for almost a hundred years. However, it has now been confirmed that Migros' problems are completely different: it has an extremely complex structure with ten regional cooperatives and the Federation of Migros Cooperatives (FMC) as its head office. But this structure is increasingly colliding with economic realities.
CH Media: "30 to 50 travel agencies threatened with closure"
CH Media's newspapers, such as the "Aargauer Zeitung", are focusing on Hotelplan, among others. The announcement that the tourism group launched by Migros founder Gottlieb Duttweiler in 1935 is to be sold came just two days after Hotelplan CEO Laura Meyer announced record results with a turnover of 1.7 billion Swiss francs. Compared to the last pandemic-free financial year, this was an increase of over 45 percent. Hotelplan did not provide any information on profits. But that is obviously not enough: this business is now too international. Duttweiler's mission from 1935, namely "to help the beleaguered Swiss hotel industry and at the same time make vacations possible for the little man", is now well fulfilled by many providers. Migros therefore sees greater development opportunities for the company with a new owner. However, there is surprise - and even consternation - in the industry. "It is simply sad that the last major Swiss travel group is to be sold," a well-known company insider and industry representative is quoted as saying. There is now a threat of 30 to 50 branches being closed.
SRF: "Everything must go"
"Hotelplan gone, Melectronics gone, SportX gone, Mibelle gone. And 1500 fewer jobs as a result." Migros wants to get rid of a lot of things, according to the SRF website. A reduction on this scale is a first for the orange giant. However, the disposal of Hotelplan comes as the least surprise. Experts have been asking themselves for some time how the travel group still fits in with the retail trade. Mibelle, on the other hand, was not powerful enough - especially as the cooperatives were increasingly including other major brands in their product ranges. But who would want to take over Melectronics or SportX in this difficult market situation? Most of the locations are within the Migros department stores. It would not be surprising if even more jobs had to be cut here. The biggest reduction in Migros' history will probably take on an even greater dimension.
Blick: "Let the Dutti spirit rest"
Today's Migros is losing market share, sales and profitability. However, profits are needed to remain a social employer with above-average employee benefits, writes the Blick. And to be able to continue to make a contribution to society via the Culture Percentage. The population trusts Migros. Swiss people identify most with the orange brand. The new Migros management must not squander this trump card. "That means not paying lip service, keeping price promises and not losing sight of ordinary people." Migros is now burying the legacy of "Dutti". "Social responsibility can live on even without the spirit of the founding father."
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