Tuesday, March 28, 2023

Ösi billionaire claws shop after shop with XXXLutz

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Austrians beat up Switzerland

Ösi billionaire claws shop after shop with XXXLutz

So now also Conforama: The Austrian furniture group XXXLutz from billionaire Andreas Seifert is expanding in this country. What does this mean for the Swiss furniture market? And what does the Weko say?

Published: 4 minutes ago


XXXLutz has established itself as a driving force in the Swiss furniture market.


Jean Claude RaemyEditor Economics

Bang follows bang in the Swiss furniture market: This week, XXXLutz made headlines again with the takeover of Conforama Suisse. The Austrians want to leave everything as it was when it comes to brand identity, the branch network and the number of employees at Conforama. XXXLutz had done the same for other takeovers. But the fight in the local furniture industry is intensifying as a result.

The reclusive Andreas Seifert (67) pulls the strings at the Austrian furniture group. Insiders in Switzerland interpret his takeovers as an attack on Ikea. There is a tough cut-throat battle in the market for cheap furniture. XXXLutz has already relegated the Swedes to second place in this country. Thanks to many acquisitions: Pfister (and with it the furniture stores Hubacher, Egger and Svoboda), Lipo and Conforama, six former Interio, Meubles Pesse in Monthey VS, plus the Swiss business of Home24 – all of this already belongs to XXXLutz. XXXLutz – group turnover of 5.3 billion euros – with all its brands in Switzerland now has 74 locations in contrast to the nine Ikea locations.

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