Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Swiss shoppers vote to keep Migros founder's alcohol ban

Published 06/16/2022, 05:03 AM
Updated 06/16/2022, 05:05 AM
© Reuters. FILE PHOTO: The company's logo is seen above the entrance of a supermarket of Swiss retail group Migros in Zurich, Switzerland June 24, 2020. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - Members of Swiss cooperative supermarket chain Migros have voted by a clear majority to uphold the ban on alcohol sales its health-conscious founder adopted when he set up the business in the 1920s.

The alcohol ban was instituted in 1928, three years after the chain's founder Gottlieb Duttweiler began his pioneering retail work by sending out five trucks with just six basic items to sell direct to households from one village to the next.

More than 630,000 members of the cooperative which owns the stores cast votes on whether to upend the tradition at the now ubiquitous outlets and put booze on the shelves, a move opponents said would betray Duttweiler's founding philosophy.

"The result is not surprising because all polls pointed to a clear 'no'. The hurdle for a change in the statutes was very high with a two-thirds majority. Migros democracy won," Ursula Nold, who chairs the Federation of Migros Cooperatives, said.

Duttweiler, who was concerned about the well-being of his customers, banned both alcohol and tobacco sales from the stores that emerged from his initial truck business. Tobacco was going to remain banned in any event.

Addiction experts said ending the ban would have removed a safe haven for alcoholics to shop.

Duttweiler's trucks initially sold just coffee, soap, rice, coconut oil, sugar and pasta. In 2021, the group, which also operates outside Switzerland, generated sales of almost 29 billion Swiss francs ($29.5 billion).

Duttweiler's socially conscious principles still guide the business, which sponsors adult education and cultural activities. Stores must cut prices when profits rise too much.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

($1 = 0.9832 Swiss francs)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.