Metro AG has shown inclination to spending more on online and international expansions after its Kaufhof department store chain was sold for 2.8 billion Euro ($3.18 billion).
Aside from opening more of its Media Markt and Saturn discount electronics stores outside Germany, the company’s chairman of the management board says there are other investments to be looked at.
- Canada Consumer Product Safety Act turns four
- Operation Pangea keeps Canadians away from illicit health products
- Young entrepreneur from St. John’s wins $25,000
Olaf Koch said in an interview to a magazine that the company plans on expanding with investments in digital businesses, modernisation of older stores, additional stores in foreign locations for Metro Cash & Carry, Media Markt and Saturn.
Canadian Hudson’s Bay has shown interest in helping expand Kaufhof’s e-commerce by taking advantage of the role its stores play as local distribution centres to beat other online-only rivals. This strategy is called “omnichannel.”
Even though e-commerce has been on the rise in Germany, the country being Amazon’s second-biggest market, local stores have been slower to respond and board the online wagon.
