The head of the Rewe Group is demanding price reductions for food from the industry.
(Photo: dpa)
Cologne The Rewe Group has again invested in the fast delivery service Flink. “We are the lead investor for a new round of financing from Flink with a volume of 150 million euros,” said Rewe boss Lionel Souque in an interview with the Handelsblatt. Rewe has thus increased its stake in the start-up, which is valued at more than one billion euros, to over ten percent.
Souque is convinced that Flink can oust its competitor Getir, which has just taken over the Gorillas delivery service, from the German market. “In the long term there will only be one provider in each country,” predicts the Rewe boss. “And that’s why we’re investing in Flink.”
In view of the fall in raw material prices, he announces renewed tough negotiations with the brand manufacturers. “The price wars are far from over,” says Souque, “and when one is over, the next begins.” And he demands: “We expect price reductions for many products from the industry.”
Read the full interview with Lionel Souque here:
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