German retail group Rewe is to invest over EUR1.5bn (US$2bn) in a revamp of its domestic and European store network and a reported expansion of its online offering.
A spokesperson for Rewe told just-food today (11 November) that the group continues to pursue “future orientated, profitable growth”.
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“In the current financial year we are planning investments of over EUR1.5bn (without acquisitions) in Germany and other European countries. We are primarily investing in the modernisation and organic expansion of Rewe and Billa and in the repositioning of Penny in Germany. This modernisation incentive will boost business,” the spokesperson said.
The retailer is also reportedly investing in an expansion of its online offering, although the spokesperson did not comment on this element of the investment.
In April, Rewe said it was looking to accelerate investment in its domestic online grocery service this year. The group started its online grocery delivery service in Munich in early summer. It operates the service from Hamburg, Berlin, Cologne, Dusseldorf and Frankfurt.
Outside of its domestic market, in May, Rewe confirmed plans to invest further in its Romania operations over a two-year period.
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