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Siggi Bucher
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1.8
The globe in the Glattzentrum is also part of the sales mass.
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2.8
Real estate tycoon René Benko together with actor legend Arnold Schwarzenegger 2017 at Oktoberfest.
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Getty Images
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3.8
A picture with rarity: René Benko shows up in public with his wife Nathalie.
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Getty Images
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7.8
Benko on the edge of the Hahnenkamm race in Kitzbühel at the end of January.
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Keystone
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8.8
Migros subsidiary Globus has been working for years. The new owner should provide new momentum.
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The deal is expected to be officially announced tomorrow, Tuesday: The Globus department store, previously a Migros subsidiary, will come into Austrian-Thai hands. The driving force on the buyer side is the Austrian real estate tycoon René Benko (42), a self-made man, as he is in the book.
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The Tyrolean was just over 20 years old when he founded the Signa Group in 1999. Today he is the third richest Austrian and has one of the most valuable privately held real estate portfolios in Europe.
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Globus is integrated into the European group
Benko doesn’t just collect rent, he knows what to do with his property. The Signa Group includes a number of luxury department stores in Germany and Italy, such as the legendary KaDeWe in Berlin (D) and La Rinascente in Milan (I). Benko controls the houses together with the Thai Central Group.
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Signa and Central are each to participate half in the globe. According to several sources, the purchase price is said to be one billion francs.
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The Globus properties are particularly valuable, including the flagship on Zurich’s Bahnhofstrasse. The pure retail trade gets Benko more or less for free.
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The new owner is likely to miss out on a complete makeover. The purchase only makes sense for the Signa Group if it integrates Globus into the KaDeWe Group.
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No more middle class
The Migros subsidiary, which has been in service for years, has thus risen to the league of Europe’s top department stores. Instead of the upper middle class there will be luxury in the future. Brands like Louis Vuitton, Gucci or Chanel are likely to get their own shops soon.
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It remains to be seen whether the previous Globus boss Thomas Herbert (50) will stay on board. However, an old acquaintance from the Migros empire will definitely have a say: Dieter Berninghaus (54), head of Migros’ retail division until four years ago, is part of the top management team at Signa and is President of Signa Retail.
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Benko is a man around whom there are some legends, which is not surprising given his meteoric rise. The Tyrolean comes from simple backgrounds and learned the business from scratch.
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In his early days he built attics in Innsbruck (A), later moving to building medical centers. With the Tyrol department store, a building that also earned him architectural and urban praise, he entered the department store business in 2010.
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Benko easily copes with the globe deal
Today he controls a group with total assets of 25 billion euros, 10 billion equity, trading sales of 7.5 billion euros and 45,000 employees. His businesses generate around a billion euros in profits every year. So he should be able to easily handle the globe deal.
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There are also less glorious chapters in Benko’s biography. He was convicted seven years ago for trying to influence tax proceedings in Italy in his favor.
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Benko managed to restore his reputation. This is borne out by his partners: The members of the Board of Directors of the Signa Group include Lindt & Sprüngli patron Ernst Tanner (73) or consultant legend Roland Berger (82).
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