The Swiss retail chain Tally Weijl is said to have changed hands. This is said to be the founding family of the electronics retail chain Media Markt, as the Swiss business newspaper reported on Friday.
According to the commercial register, the German company Convergenta Invest, the holding company of the Media Markt founding family Kellerhals, acquired over four million ordinary shares as part of a capital increase in December.
Since the end of 2023, she has been the fashion chain’s new main shareholder with a stake of over two thirds. Beat Grüring, who established the company together with Tally Elfassi-Weijl in 1984, will remain on board as managing director, but no longer holds the majority of the company. The Kellerhals family is also no stranger to the company. In 2020, they acquired a 20 percent stake in Tally Weijl and ran Tally Weijl stores in the franchising model in Austria.
The impact of the pandemic and competition from Chinese e-commerce giants such as Shein and Temu led to a significant decline in the company, which had to close around 200 stores in 2020. According to the Handelszeitung, it currently has over 450 stores, with a focus on the DACH countries and Italy.