Migros strategy
Migros sells Bikeworld: This Bern-based bike retailer saves the majority of its branches
After Melectronics and SportX, Migros is selling off its Bikeworld format bicycle shops. A successor solution has been found for the majority of the locations. This is shifting the balance in the Swiss bicycle market.
Coming into new hands: A branch of Bikeworld.
Image: Migros
Migros is making progress in the sale of its specialist stores: After announcing in June that 20 of 37 branches of the electronics chain Melectronics would be sold to competitor Media Markt, it was announced in July that 27 of the 49 stores of the Migros sports retailer SportX would go to the Dosenbach-Ochsner Group. The group will continue to operate the majority of these as Ochsner-Sport branches and a few as Dosenbach stores. The remaining SportX and Melectronics stores will be closed.
Now comes the next step in the sell-off process: Migros has found a buyer for the majority of its bicycle retailer Bikeworld’s branches. The Bern-based retailer Thömus will take over 12 of the last 16 branches, including their employees. The branches will be redesigned and reopened under the name “Thömus Bike World” on March 1, 2025, according to a statement on Tuesday.
The CEO of Migros Fachmarkt AG, Peter Schmid, is quoted as saying that Migros is “very happy” to be able to place the majority of its branches in “experienced, bicycle-loving hands from Switzerland”. In February, Migros announced that it wanted to focus more on its core business, supermarkets, where it had recently lost market share.
The specialist stores SportX, Bikeworld, Melectronics, Micasa, Do it + Garden, the industrial company Mibelle and the travel company Hotelplan would be sold, which would result in around 1,500 jobs being lost, it was said at the time. No buyers have yet been communicated for Hotelplan and Mibelle, but the sales processes for Micasa and Do it + Garden are underway, according to Migros.
Four branches were closed
As with the Melectronics and SportX sales, there will also be branch closures in the Bikeworld case. Thömus will take over the locations Affoltern am Albis ZH, Au Wädenswil ZH, Baden AG, Ebikon LU, Muri BE, Payerne VD, Pratteln BL, Romanel-sur-Lausanne VD, Schlieren ZH, St. Gallen, Volketswil ZH and Zuchwil SO. The branches Gland VD, Hinwil ZH, Vernier GE and Winterthur ZH will be closed.
However, Thömus is making the employees in the affected branches an equivalent employment offer, the statement says. In addition, the company will in future ensure warranty work on all bicycles purchased from Bikeworld. However, the sale of Bikeworld will result in 12 jobs being cut at Migros Fachmarkt AG. This is to happen by the end of April 2025.
The takeover will give Thömus established sales channels and enable it to build up an almost nationwide network, the statement said. The parties have agreed not to disclose the sales price. According to the statement, the newly opened stores will not only sell Thömus bikes, but also those of other brands as well as textiles and accessories.
Coop and Decathlon are also involved
Thömus currently operates eight stores in German-speaking Switzerland and the Principality of Liechtenstein. The acquisition of Bikeworld represents a major growth leap for the Bern-based company. The company was founded in 1991 by Thomas Binggeli and has been producing its own bicycles since 1998. The most important product was initially mountain bikes, before the company launched the “Stromer” electric bikes in 2009. The spin-off “Twinner” was recently launched, which develops fast e-bikes. These are not cheap: the first model is currently being sold in a “launch package” for just under 15,000 francs.
Binggeli is not only active in bicycle sales, but also in bicycle rental: almost two years ago, together with CEO Markus Bacher and IT entrepreneur Guido Honegger, he bought the provider Publibike, which is active in several Swiss cities, from the Swiss Post.
Thömus’s turnover was recently estimated at around 20 million francs. The company employs 140 people. In terms of locations, thanks to the Bikeworld deal, the provider is overtaking the Zurich chain Veloplus, which, according to figures from market researcher GFK, currently has eleven branches and generated sales of almost 50 million francs in 2023.
Other major bicycle retailers in Switzerland include Ochsner Sport, the Coop subsidiary Jumbo and the French sports retailer Decathlon. Trophy Bike from Givisiez FR now has five branches. The Italian chain Pinarello is active in the luxury sector and plans to open its first store in Zurich soon.
