German retailer Metro AG has announced that it will invest more in its online and international operations.
This revelation follows the $3.18 billion sale of its Kaufhof department store chain to Hudson’s Bay Co. The Canadian retailer plans to expand Kaufhof’s e-commerce “aggressively” in order to take advantage of the roles its stores can play as local distribution centres. While e-commerce is growing quickly in Germany, stores like Kaufhof have been slower than their North American rivals to integrate online fully with their stores.
Metro, Europe’s fourth-largest retailer, sold Kaufhof to focus on developing its cash-and-carry and consumer-electronics business. The company now aims to open more of its Media Markt and Saturn discount electronics stores outside of Germany, and is considering adopting an online-based delivery service for its Real-branded stores. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
