When does the home depot close
Depot boss Gries: "We will close some locations"
A branch of the home decorator Depot in downtown Frankfurt. Christian Gries storms into a meeting room behind the sales area. His time is short - the entrepreneur has just bought back the Gries Deco Group. The company that operates Depot bears the name of his family and has owned it for decades, but in recent years it has belonged to 90 percent of the Swiss Migros Group.
WORLD: Mr Gries, Migros was a partner in Depot for ten years, with a majority since 2012. Why the exit now?
Christian Gries: Migros is also separating from other non-food businesses outside of the cooperatives. This also applies, for example, to the Globus department stores and the furniture chain Interio and the e-bike provider M-Way. The synergies were simply too small for Migros.
WORLD: In the Migros years, the number of depot branches has quintupled to around 500, and sales have recently increased to around 480 million euros, also a fivefold increase. In the same area, sales are therefore more or less on the spot. Why is it not possible to get the business flying?
Semolina: Trading is generally going through a difficult time and we are operating in a challenging market environment. Other retail companies are also struggling with the new framework conditions, especially with the changed customer behavior. The trend from stationary shopping to online business has experienced a vital dynamic in the last two or three years. We are facing major challenges that we will tackle consistently.
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