REWE Group Takes a Share in Home24
The Cologne-based retail and travel and tourism combine REWE Group is acquiring a minority interest in the Berlin Home24 GmbH. This was announced today by Lionel Souque, responsible for e-commerce within the REWE Group Management Board.
Home24 is Germany’s largest online furniture shop. The main investor in the Berlin company is Rocket Internet, the largest internet incubator in the world.
“Taking a share in Home24 is a fantastic opportunity for us to gain new experiences in online retail, to learn from the best and to extend our network in the e-commerce scene," explained Lionel Souque. “Given the strong growth of the online furniture market industry in Germany and Europe, we are convinced of the success of the Home24 business model. Home24 offers over 50,000 products including furniture lamps and home accessories from over 350 manufacturers and therefore constitutes a very attractive alternative to classic furniture stores. Moreover, we consider this interest strong evidence of the further development of our online strategy”.
REWE Group’s interest is part of a capital increase. Home24 GmbH and REWE Group have agreed to keep the details confidential.
The cooperative REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2012, the company generated a total external turnover of around 50 billion euros. REWE Group, founded in 1927, operates 15,500 stores with 327,000 employees in 13 European countries. In 2012, around 226,000 employees generated sales totalling 36 billion euros in about 11,000 stores in Germany.
Our sales lines include supermarkets and consumer stores under the REWE, REWE CENTER, REWE CITY, toom and BILLA brands, the PENNY discounter brand, toom Baumarkt DIY stores and B1 discount DIY stores, and the Pro Markt consumer electronics stores. Under the umbrella of DER Touristik, Travel and Tourism includes the tour operators ITS, Jan Reisen and Tjaereborg, as well as Dertour, Meier’s Weltreisen and ADAC Reisen, and the business travel division FCm Travel Solutions with over 2,100 travel agencies (including DER Reisebüro, DERPART), and the hotel chains lti hotels, Club Calimera and PrimaSol Hotels, and the direct tour operator clevertours.com.