Switzerland: XXXLutz overtakes Ikea

Within four years, XXXLutz has bought its way up to become the Switzerland's largest furniture retailer. This was reported by the Swiss business magazine Bilanz. According to the report, the Austrian furniture giant, with its XXXLutz branch in Rothrist, the Pfister, Mömax, Hubacher, Egger, Svoboda, Lipo and Conforama furniture chains, has 73 branches in Switzerland. Now Austrians have apparently even pushed placeholder Ikea off the top spot. As Bilanz further reports, XXXLutz does not report any turnover for Switzerland, but according to its own research, with all its holdings, it is likely to have more than CHF 1.4 billion (approx. EUR 1.35 billion). Ikea, on the other hand, turned over only CHF 1.2 billion last year. But that's not all: the second XXXLutz-branded shop is currently being built at the motorway exit in Dietikon, near Zurich, and is expected to open in late summer 2022.

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