Rewe Group is taking a minority stake in Home24, a Berlin-based online furniture retailer for an undisclosed amount.
"The involvement in Home24 is a great opportunity for us to gather important new experience in online retailing, to learn from the best and extend our network in the e-commerce scene,” said Lionel Souque, member of the executive board of Rewe’s retail and tourism group.
Souque added, "We are confident of the success of the business model of Home24 in a vigorously growing online furniture market in Germany and Europe. Because Home24 offers over 50,000 products from over 350 manufacturers and is thus in furniture, lamps and home accessories a very attractive alternative to traditional furniture stores."
"In addition, we put up with this participation also a strong sign in the development of our online strategy."
The main investor in the Berlin-based company is Rocket Internet
The Cologne-based retailer's ProMarkt.de online shop has been closed as of 30 July, as it examines the possibility of closing or selling its bricks and mortar ProMarkt electronics superstore chain.
© 2013 - ESM: European Supermarket Magazine by Ellen Lunney
