“Migros belongs to the people, not to the management”

Mr Irminger, I’d like to wish you a belated Happy New Year! How did you start 2026?
I spent a few days in the mountains with my family at the end of 2025. We came home on New Year’s Eve, reflected on the past year together and went to bed before midnight.

In 2025, we celebrated 100 years of Migros. The anniversary year was an emotional time. What aspects of 2025 will you take with you into 2026?
Clearly the wonderful spirit shown. The big employee festival that was held on the grounds of the Swiss Wrestling and Alpine Festival in Glarus in September was for me the most impressive moment in my 15 years at Migros. Seeing all of these people from across the entire Migros Group who give their all day in, day out and celebrating with them was quite wonderful. Carrying this momentum into the second century will instil me with great confidence.

The Migros Group is entering its second century with a new vision under the grand title of “A Switzerland with high quality of life for everyone”. Why is this responsibility falling to Migros?
With almost 100,000 employees, it is Switzerland’s largest employer. Almost everyone in this country is connected to us in one way or another. Although Migros founder Gottlieb Duttweiler aimed to achieve commercial success, he always wanted to do it in a way that would make people's everyday lives better. Our vision embraces his ethos: outstanding performance and social commitment are equally important. These two notions belong together.

What exactly does this mean?
The vision is based on three guiding principles. Firstly, Migros wants to be first choice in everyday life and set standards in terms of services. Secondly, our social commitment, which currently stands at approximately CHF 140 million per year, remains a major part of our plans. Thirdly, we want to share our economic success with the Migros Community, i.e. our customers, cooperative members and employees. This is because Migros belongs to the people, not to the management.

That sounds ambitious, especially in view of the fierce price war with discounters. Can Migros keep up?
It must and it can. Our most important benchmark is always – what is best for our customers? That’s why we’ve cut the prices of more than 1000 everyday products to discount levels. Yet we also offer a full range of products, including many IP-Suisse and organic products. Especially in times of high rents, health insurance premiums and the cost of living, we need offerings that all households can afford.

The Migros Group is currently engaged in tough price negotiations, which has resulted in some of our shelves being empty. Does Migros want and even need branded products?
Yes it does, but only at fair prices. We negotiate hard with large corporations. They often make returns of 15% to 20% for their shareholders. At Migros, that figure stands at less than 2%. Migros has reduced the prices of more than 1000 everyday items, saving customers CHF 500 million every year. Migros is making up for this loss of revenue by becoming more efficient and renegotiating prices with major brand manufacturers. We believe it is important that these negotiations do not affect small Swiss suppliers or the agricultural sector.

The vision also states that Migros wishes to give back a share of its economic success. Isn’t that what the Migros Culture Percentage already does?
We already do an enormous amount of work in this respect today – there’s no doubt about that. But in future, we aim to make being a member of the cooperative or a customer even more rewarding. We will determine exactly what form this will take over the course of this year. There are a number of potential models, such as those in place at Mobiliar, that offer discounted premiums. One thing is clear: everything will be done within the framework of our system. We have never had a rich owner family, nor shareholders who feel entitled to dividends, nor have we paid out management bonuses in the entire Migros Group.

What’s the situation regarding co-determination?
We also wish to improve this aspect with greater co-determination on relevant issues through cultural engagement and proximity. Today, there are 2.3 million cooperative members. That’s an enormous community. We aim to harness this power.

The vision sounds good on paper, but what is actually happening right now?
We’re implementing the vision! By reducing prices, building 140 new stores, modernising 350 other stores and investing digitally. Digitec Galaxus is enjoying strong growth and Medbase is expanding its primary healthcare services with family doctor and dental practices. For example, the Migros Group is ensuring that family doctors remain available in rural areas. The vision applies to the entire Group, not just the supermarket business. Sustainable products, innovative store concepts and social initiatives are also being implemented, thereby ensuring the vision doesn’t just look good on paper.

What’s the new store concept all about?
It is part of our response to changing customer needs. For example, customers can now find their salad for lunch or their iced tea at the checkout in just a few steps and without having to take any detours. They can plan their route through the store more freely, which makes shopping more independent, faster and more enjoyable too. The new concept will help us to expand our fresh produce expertise and strengthen our own brands. A total of 86 stores have already been renovated or newly opened, which has gone down extremely well with customers.

Let’s look at the figures: revenue has fallen but profitability is up. What does that mean for Migros?
2025 was a year of realignment. We have disposed of loss-making businesses as well as those that no longer fit in with our strategy. Revenue excluding the holdings held in the divested companies totalled CHF 29.4 billion, which equates to year-on-year growth of 1.1%. Given the major changes, we can be satisfied with this performance.

Business is booming for Digitec Galaxus, Switzerland’s largest online department store. Will we soon be buying everything online?
There has been and continues to be a clear shift in the non-food sector. Digitec Galaxus is a success story and that’s set to continue. However, the situation with food is different. People love going to the shop, drawing inspiration from the fresh fruit and vegetables, and savouring the smell of fresh bread. This means that online retail and bricks-and-mortar stores will continue to complement each other perfectly in the future.

What is your wish for Migros in its 101st year?
The dawning of a new era. I hope that by the end of the year we can say that we’ve taken a big step forwards in terms of top services, i.e. offering high quality at fair prices, social commitment and the Migros Community. This would mean that we are right on track for the second century.

Have you made any new year’s resolutions? More work or scaling more mountain peaks?
A good mix of both. I want to continue with the momentum from the anniversary year, while at the same time maintaining a good work-life balance. For me, that means spending enough time with my family. Ideally in the mountains, of course!