Globus sells all 31 branches

Former Globus CEO Thomas Herbert has taken over all the branches of the Globus group (Schild, HerrenGlobus and Navyboot) together with Silvia and Fredy Bayard. The transfer of ownership, for an undisclosed price, will be effective from the beginning of February 2021. The buyers, according to a note from the Globus group, will take over the leases as well as the approximately 320 collaborators (spread over 31 branches) affected by the transaction under current conditions.

The goal of the new owners is to restore the branches under the name ‘Bayard Co Ltd’ or ‘Navyboot’ in order to make them profitable. The Globus chain of department stores has been part of the Migros group for years. Migros however decided in February this year to sell to the Austrian-Thai joint venture Signa / Central Group. The latter intends to focus on department stores and has said it is ready to invest 300 million francs in the company.