Glovo enters Stoneweg partnership to expand Q-Commerce
Glovo has announced a strategic partnership with Swiss real estate firm, Stoneweg, as the Barcelona-based on demand delivery platform expands its newly launched Q-Commerce division.
Stoneweg will invest €100 million in building and refurbishing prime city real estate in some of Glovo’s key markets.
The latter’s initial focus will be on growing its network of dark stores in Spain, Italy, Portugal, Romania and additional countries under review in Europe.
It currently operates 18 in cities such as Barcelona, Madrid, Lisbon and Milan and is now looking to open similar stores in the likes of Valencia, Rome, Porto and Bucharest. The aim is to have 100 locations by the end of 2021.
Oscar Pierre, Co-founder and CEO, Glovo, says: “In the wake of Covid-19, we believe that dark stores represent the future of post pandemic retail, and I think we’ll see a permanent shift in consumer habits towards same-day and instant delivery.”
“We’re excited to continue to expand our offering, so that all types of businesses, from local independent stores to multi-national chains, can reach more and more customers thanks to new technological solutions and highly efficient infrastructure.”
Joaquín Castellví, Founding Partner and Head of Acquisitions for Europe at Stoneweg, comments: “the Q-Commerce division responds to the rapidly evolving demands of the modern consumer.”
“For Stoneweg, it also represents an opportunity to offer our clients to diversify into a new class of retail asset through consolidated cities where Glovo operates, in a segment with great growth potential, accelerated by the situation we are experiencing.”
RTIH Innovation Awards
Glovo’s Q-Commerce initiative was recently highly commended in the 2020 RTIH Innovation Awards Supply Chain Innovation category.
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