Galaxus to continue investing in its European operations
Galaxus is set to continue investing in the growth of its German subsidiary Galaxus Deutschland. The company has secured funding for its international expansion until 2029.
Online retailer Galaxus has confirmed it will continue operating internationally in future. The Migros Group, the majority owner of Switzerland’s largest online retailer, has approved Galaxus’s international budget for four years. Galaxus intends to use the funds to expand its existing European operations in a targeted way, taking advantage of opportunities that come with it.
In spring 2024, the Executive Board of the Federation of Migros Cooperatives (FMC) put the Group’s strategic business areas under close scrutiny – including Galaxus’s European expansion. FMC’s analysis of the strategy has now shown that developing online retail operations in Europe in a targeted way yields promising results. The potential for significant growth, as well as the associated synergy effects, are key to ensuring customers in Switzerland have long-term access to a varied product range at competitive prices.
«We’re delighted that the Board of Directors at Migros has approved our strategy and will continue investing substantially in Galaxus,» says Florian Teuteberg, CEO of Digitec Galaxus. «We’re continuing to see enormous potential for growth in countries neighbouring Switzerland, with Germany being the main focus of our efforts. Our high customer retention rate and positive brand perception there, among other things, prove that our offering’s winning over our northerly neighbours too.»
Galaxus Deutschland is growing
Galaxus launched its German subsidiary, Galaxus Deutschland, in November 2018. The first six years of trading have been promising, with 2.5 million customers and over 286 million euros in sales in 2023. The online retailer now employs more than 200 people at four locations in Germany.
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Tobias Billeter
Head of Corporate Communications
Tobias.Billeter@digitecgalaxus.chMaking sure employees and media know what's up at Digitec Galaxus is my job. But without fresh air and a lot of exercise, I basically stop functioning. The great outdoors provides me with the energy I need to stay on the ball. Jazz gives me the tranquility to tame my kids.
