Home24, Europe’s leading online shop for furniture, today announces a new round of funding from REWE Group. As one of the leading trading and tourism companies in Europe, REWE group has acquired a minority interest in Home24 GmbH.
Domenico Cipolla, Managing Director of Home24, says: “We are happy to welcome a successful company like REWE Group among our investors. With this step we are further strengthening Home24’s position for the future. We believe that Home24 will greatly benefit from REWE Group’s longstanding experience and retail expertise and are looking forward to a successful cooperation.”
“Joining Home24 is a great opportunity for us to gather new experiences in online retail, learn from the best and strengthen our network in the e-commerce ecosystem”, explains Lionel Souque, responsible for e-commerce in the managing board of REWE Group. “We are convinced by the success of Home24´s business model in the fast growing online furniture market, both in Germany and Europe. Since Home24 offers more than 50,000 products from over 350 suppliers including furniture, lamps and home accessories it is a very attractive alternative to traditional furniture retail. Furthermore this cooperation is a strong signal for the further development of our online strategy”, he adds.
The participation of REWE Group is based on an increase of capital stock. With the investment Home24 will focus on further growth.
About Home24
Home24 is the leading online shop for furniture and home accessories. The broad range of more than 50,000 products from over 350 manufacturers includes furniture, lamps, home accessories and garden equipment. The company operates in four core markets in Europe: Germany, France, Netherlands and Austria. It is headquartered in Berlin, where it employs around 300 people. Home24 delivers all kinds of furniture – regardless of weight and dimensions – for free and right to the customer´s place of choice.
About REWE Group
The cooperatively organised 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. Founded in 1927, REWE Group operates 15,500 stores with 328,000 employees in 13 European countries. In 2012, around 226,000 employees generated turnover totalling 36 billion euros in approximately 11,000 stores in Germany.
The sales lines include REWE, REWE CENTER, REWE CITY, toom and BILLA supermarkets and consumer stores, the discounter PENNY, toom Baumarkt and B1 Discount Baumarkt DIY stores. Travel and tourism under the umbrella of DER Touristik includes the tour operators ITS, Jahn Reisen and Tjaereborg as well as Dertour, Meier’s Weltreisen and ADAC Reisen and the business travel division FCm Travel Solutions and more than 2,100 travel agencies (e.g. DER Reisebüro, DERPART), the hotel chains lti hotels, Club Calimera and PrimaSol Hotels and the direct tour operator clevertours.com.
Picture 1: Home24 Managing Directors (from left to right): Domenico Cipolla, Felix Jahn, Philipp Kreibohm
Picture 2: Home24 center of distribution in Kreienbrink (Brandenburg)
Picture 3: Packets in the Home24 center of distribution in Freienbrink
