XXXLutz takes over Conforama - brand remains in place
Conforama comes under the ownership of the Austrian furniture giant XXXLutz. Nothing is to change in terms of brand presence and the store network.
The Conforama brand and locations will be retained, a XXXLutz spokesman said Thursday in response to an inquiry from news agency AWP. The takeover would also have no impact on jobs. These would also be retained.
Conforama Suisse AG currently operates 20 stores in German-speaking Switzerland, French-speaking Switzerland and Ticino and employs 850 people. The sale was first reported in the French-speaking Swiss business magazine Bilan reported. Subsequently, Conforama confirmed the deal in a communiqué.
Market position expanded
With this deal, XXXLutz is expanding its market position in Switzerland. The Austrians had only entered the Swiss market in September 2018 with their own furniture store. The first location was a 15,000-square-meter store in Rothrist, Aargau.
Following the acquisition of Möbel Pfister in 2019, XXXLutz also bought six Interio stores from Migros in 2020 and converted them into Mömax stores. A year ago, the company further expanded its Swiss presence with the acquisition of Lipo.
Mamane goes
The previous owner of Conforama was the entrepreneur Dan Mamane. He had bought the furniture store from the South African Steinhoff Group two and a half years ago. At the end of 2021 - as has now become known - he had already ceded 50 percent of the share capital to a company belonging to the XXXLutz Group.
Now he is also parting with the remaining 50 percent. According to the XXXLutz spokesman, no contract details are being communicated. The parties have agreed not to disclose the sale price. (SDA)
