💰 Multi-Year Budget Approved
Migros, the parent company of Galaxus, has greenlit the budget for the online retailer's international expansion for the next four years, extending until 2029. This decision comes after a thorough review of all business areas by Migros, including Galaxus' European strategy. The analysis concluded that further investment in the European market holds great potential. The plan is to use these funds to grow operations in Germany, as well as Belgium, the Netherlands, Austria, Italy, and France, all while enhancing the product range for Swiss customers.
🇩🇪 Germany as Key Focus
Germany has become the primary focus for Galaxus. Since entering the German market in November 2018, the company has seen significant growth, serving 2.5 million customers. By 2023, Galaxus Germany generated $305M in sales. CEO Florian Teuteberg emphasized that Germany's positive response to Galaxus' concept showcases its growth potential. He cited the "high return rate and positive brand perception" as indicators of success in the German market, which remains central to the company's international expansion plans.
🚚 Expansion Across Europe
Galaxus has steadily expanded its presence across Europe. Beyond Germany, the Krefeld logistics center also supports Belgium and the Netherlands. Since 2021, Galaxus has entered Austria, and the company also established branches in Italy and France in 2022. By increasing its logistics capacity and market reach, Galaxus is positioning itself as a leading e-commerce player in Europe, while also generating efficiencies that benefit Swiss customers with a more competitive product offering.
📈 Future Growth Prospects
The future looks promising for Galaxus. The company continues to leverage its Swiss market expertise and applies it to neighboring countries, especially Germany. With Migros' renewed confidence in its European expansion strategy, Galaxus plans to further capitalize on synergy effects and economies of scale. This strategy not only strengthens its position abroad but also promises better pricing and variety for Swiss consumers. The allocated budget will ensure that the company can seize growth opportunities until at least 2029.
Will Galaxus' European growth strategy pay off?
