Digitec Galaxus continues to grow this year
Published: Sunday, Dec 15th 2024, 04:40
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Online retailer Digitec Galaxus has grown again this year following record sales in 2023. In an interview, Migros CEO Mario Irminger spoke of double-digit percentage growth for the Migros subsidiary.
Last year, the online retailer achieved sales of 2.4 billion Swiss francs in Switzerland, as Irminger said in an interview with "SonntagsBlick".
Despite rapid growth, Digitec Galaxus is in the black "and is on the way to a profit margin of 1.5 to 2 percent in line with the market", said the CEO. The online retailer is hardly feeling the competition from Chinese provider Temu.
The online retailer is also in demand in Germany, said Irminger. Despite the cost-cutting program and group restructuring, Migros is sticking to its growth plans in its neighboring country, as the company announced in September. Migros has made a "substantial amount" available to its subsidiary for this purpose, said the company boss in response to a corresponding question from the newspaper. He did not give a figure. If the online retailer grows in Germany, customers in Switzerland will also benefit, Irminger said in the interview published on Sunday.
©Keystone/SDA
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