Migros (company)
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| Company type | Anonim Şirket |
|---|---|
| BİST: MGROS | |
| Industry | Retail Supermarket |
| Founded | 1954 |
| Headquarters | , |
Areas served | Turkey Kazakhstan North Macedonia |
Key people | Ömer Özgür Tort (General Manager)[1] |
| Revenue |  $6.26 billion (2023) |
 $307 million (2023) | |
| Total assets | $3.17 billion (2023) |
| Total equity | $1.25 billion (2023) |
| Owner | Anadolu Grubu |
Number of employees | 50,915[2] (2023) |
| Website | migroskurumsal |
Migros Ticaret A.Ş. is one of the biggest chains of supermarkets in Turkey.[citation needed]
Together via Migros supermarkets, Macrocenter Stores, international Ramstore shopping centers, online and mobile shopping, wholesale stores, and mobile sales units, Migros Turkey serves an estimated 160 million customers.[citation needed] As of Nov 2014, the company operates a total of 1,156 stores: 852 Migros stores, 212 Tansaş stores, 24 5M stores and 27 Macro Centers stores in Turkey, 41 Ramstores in Kazakhstan and North Macedonia, according to its website.[3]
News reports in February 2008 indicated that BC Partners has agreed to buy Migros Türk in Turkey's biggest-ever leveraged buyout. [citation needed] The London-based firm will trade Koc Holding 1.98 billion TL for a 51 percent stake in Migros Türk. Later, BC increased its stake to 98 percent. In 2011, the group sold approximately 20% back to public market investors.[4][5] BC Partners revealed in January 2015 that it would sell its 40.25 percent stake in its supermarket chain Migros to the Turkish conglomerate Anadolu Group for around $2.74 billion.[citation needed]
The Migros logo
[edit]The logo of Migros Turkey is similar to an older version of the Swiss Migros logo but uses a dotted i, as the dotless I represents a different letter in the Turkish alphabet with phonetic value /ɯ/, a close back unrounded vowel. As in Switzerland, the supermarkets are categorized in three size classes of M, MM and MMM but with another size 5M:
- M Migros supermarkets are selling basic groceries and a limited number of non-food products
- MM Migros stores offer a wider range of non-food articles besides the basic groceries
- MMM Migros stores have a larger product spectrum ranging from stationery to textile products, electric household appliances to bakeries, books and cosmetics
- Additionally, there is a fourth class, the 5M Migros have the widest product selection and are found mostly in the Anatolian Tigers or tourist areas of the southwest coast, as well as in Ankara.
- Additionally, there is a fifth class, the Migros jet, mini-markets in boroughs, formed by acquisition of Tansaş resembling its Mini Tansaş line.
History
[edit]
The Governor of Istanbul Fahrettin Kerim Gökay, together with the Foreign Minister Fethi Çelikbas approached the founder of the Swiss Migros, Gottlieb Duttweiler in 1953, in order to organize a sustainable food supply to the major population centers of Turkey.[6] Migros Turkey was established in 1954 as a joint venture with the Swiss Federation of Migros Cooperatives. Duttweiler and Charles Henri Hochstrasser, the first head of Migros Türk also held considerable percentages.[6] Initially, Migros Turkey operated via sales trucks (like its Swiss counterpart) only later to open storefronts – the first in 1957 at the fish market in Beyoğlu, Istanbul.[7]
In 1975, the Koç Group took control of the company[7] by acquiring a majority of its shares. Thereafter, Migros rapidly increased the number of stores in Istanbul, establishing the necessary infrastructure for purchasing fruits and vegetables directly from producers and farmers.[citation needed]
In 1981, a central perishables warehouse was opened.
In 1988, following development in Istanbul, 4 large stores were opened in İzmir, and infrastructure investment was started in the Aegean region.[citation needed]
In addition to neighborhood stores in Istanbul and İzmir, larger stores were opened in new residential and suburban areas – an MM market in İzmir, followed by two MMM stores in Istanbul, in 1991.[citation needed]
In 1991, Migros became a publicly traded company.[citation needed]
Around this time, Migros extended its chain of supermarkets to other large cities, such as Antalya, Ankara and Bursa, and the resorts destinations of Marmaris, Bodrum, Silivri and Yalova.
In 1995, Migros introduced a low-cost brand outlet named Şok. Started in Istanbul, the discount markets expanded to Ankara and İzmir. Şoks offer both food and non-food items.[citation needed]
Rapid growth
[edit]In 1996, Migros opened its first store outside of Turkey – a Ramstore in Baku, Azerbaijan – followed up the next year with a shopping center in Moscow, Russia. With the success of the first Ramstore in Baku, four new stores were opened in Azerbaijan.[citation needed]
Migros opened a second, larger, Ramstore shopping center in Moscow's Maryina Roscha district. In 1998, a new Ramstore shopping center's foundation was laid in Kazakhstan.[citation needed]
In 1999, Migros Turkey launched its online presence, Kangurum, hosting more than 25,000 products from 60 different stores, ranging from refrigerators, wedding rings, toys, bouquet arrangements, and tomatoes to vacation reservations.[citation needed]
Migros presented the Bakkalım (literally: My Grocery) store format in the first quarter of 2000, spreading in Istanbul, İzmir and Ankara; they number 700, today.[citation needed]
In 2006, а Ramstore was opened in Bishkek, Kyrgyzstan through a Kazakh subsidiary.[8]
It is reported that Migros Turk's market share was 8.6 percent at the end of 2006, compared with 5.3 percent for its second-place competitor.[9]
Ramstores in Sofia, Bulgaria were closed down in 2007.[10]
In September 2007, Migros sold its 50% interest in Ramenka, which operated 53 Ramstores in Russia and other Eastern European countries, for US$542.5m to its venture partner: Enka Holdings (Enka Insaat Sanayi AS). In 2006, that operation accounted for about a fifth of Migros's revenue of US$3.3 billion.[11]
In February 2008, BC Partners Ltd. agreed to acquire Migros Türk TAS, Turkey's largest supermarket chain, for about US$3.2 billion in the country's biggest-ever leveraged buyout, gaining 961 stores in Turkey and nearby countries through the acquisition.[9] In 2009 Migros Türk issued an Initial Public Offering (IPO) at the Istanbul stock exchange.[12]
In 2011, the company sold its stores in Azerbaijan, contracting its international footprint to just two countries outside of Turkey.[citation needed]
As of 2019, Migros Ticaret A.Ş. has 2008 Migros stores in 81 provinces of Turkey, 51 Macrocenter stores in 6 provinces, 44 Ramstore stores in Kazakhstan and North Macedonia.[13]
Controversies
[edit]Controversy over animal abuse
[edit]Migros is being called out by customers for selling eggs that are sourced from caged and abused hens and refusing to publish a cage-free commitment. The petition asking Migros to abandon cage eggs collected over 130,000 signatures.[14][15]
See also
[edit]References
[edit]- ^ "Migros Ticaret A.Ş." Retrieved 1 July 2015.
- ^ "Organisation and Nature of Operations (page 9)" (PDF). MİGROS TİCARET A.Ş. Retrieved 20 April 2024.
- ^ "Our Brands". Migros Ticaret AS. Retrieved 22 November 2014.
- ^ "Wal-Mart eyes takeover of Turkey's Migros Ticaret". Yahoo Finance UK. 12 December 2012. Retrieved 1 July 2015.
- ^ "Walmart eyes bid for Turkish retailer". Financial Times. Retrieved 1 July 2015.
- ^ a b Hartmann, Heinrich (2020). "Wir wünschen Ihnen mit diesem Türken guten Erfolg" (PDF). Schwabe Verlag: 47–48. doi:10.24894/2296-6013.00051. S2CID 226468980.
- ^ a b Mordrelle, Eflamm (26 May 2020). "Hot Corner: Diese Migros gibt Vollgas". Finanz und Wirtschaft (in German). Retrieved 2021-07-19.
- ^ Lymar, Anton (6 June 2006). "Ramstore supermarket will open in Turkish center of VEFA, being built in the capital of Kyrgyzstan" (in Russian). 24.kg. Retrieved 21 September 2017.
- ^ a b "BC Partners to Buy Turkey's Migros for $3.2 Billion (Update4)". Bloomberg. Archived from the original on 2014-11-29. Retrieved 2019-10-04.
- ^ Markova, Zornitsa. "Ramstore released all of its stores in Sofia" (in Bulgarian). Economedia. Retrieved 21 September 2017.
- ^ Kayakiran, Firat. "Migros Turk, Seeking Buyer, Sells Russian Store Chain". Bloomberg. Archived from the original on 2015-09-24. Retrieved 2019-10-04.
- ^ Mordrelle, Eflamm (26 May 2020). "Hot Corner: Diese Migros gibt Vollgas". Finanz und Wirtschaft (in German). Retrieved 2021-07-19.
- ^ "Migros Ticaret A.Ş." (PDF). Retrieved 25 January 2023.
- ^ "STK'lerden ortak çağrı: Migros eziyete dur de". birgun.net (in Turkish). Retrieved 2023-05-12.
- ^ "STK'lardan ortak çağrı: Migros eziyete dur de - Yeşil Gazete" (in Turkish). 2023-05-11. Retrieved 2023-05-12.
External links
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