Finnish retailer Kesko has announced that its joint venture with Oriola has been finalised, which will establish a new chain of health and well-being stores.
Jorma Rauhala, Kesko's executive vice president, said, “Together with Oriola we will build a leading health, beauty and well-being chain that Finns can trust. Kesko has extensive experience in the grocery trade and a strong K consumer brand."
“Oriola, for its part, is a highly valued distributor of health and wellbeing products and an expert in the pharmaceutical sector. We will announce the chain's name, concept and the location of the first stores in the next few months.”
Smooth Proceedings
Kesko reports that the first step will be to build a chain of 100 stores and an online marketplace. Approximately 15 stores will open by the end of 2017, and the new chain is estimated to create 1,000 new jobs in Finland.
Kimmo Virtanen, Oriola's executive vice president, said, “We are delighted that the establishment of the joint venture has now been finalised and its operation can begin. The preparations of the joint venture's operation together with Kesko have proceeded extremely well and the first stores will be opened in the autumn.”
Kesko initially announced the joint venture back in March, and last week Finland’s Competition and Consumer Authority gave permission to establish the company.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.
