Expansion in Europe

XXXLutz Group invests digitally and in the brick and mortar sector

The furniture chain XXXLutz announced an investment in the online platform moebel.de at the end of last year and startet 2022 with acquiring the leading furnishing chain in the Swiss discount furniture market.

Jan 05 2022

moebel.de, based in Hamburg, has become the leading German-language specialist search engine for furniture, furnishings and living in recent years and has already started to internationalize its platforms in two further countries, France and the Netherlands.

"With the exit of the investor, the possibility of the investment has arisen for the XXXLutz Group. No operational activities will be taken over from our side with this investment. The existing management under CEO Arne Stock will continue to operate the neutral platform as before and will further internationalize it in the following years," said Alois Kobler CEO at XXXLutz Germany.

The XXXLutz Group is also continuing its expansion in Europe in stationary retail. With the purchase of the 23 furniture LIPO locations in Switzerland from the Steinhoff Group, the number of furniture stores in operation has grown to over 370 in already 13 European countries.

LIPO sells, among other things, low-priced furniture, room furnishings and household goods. Möbel LIPO will continue to operate with its own market presence and under its existing name.

The parties have agreed not to disclose the purchase prices of the deals. The purchase of LIPO is subject to approval by the relevant antitrust authorities.

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