RELEX Solutions hits €100 million turnover in 2021

Retail optimisation technology provider, RELEX Solutions, added 34 new retailers as customers during 2021, bringing its total retail customer base to more than 350 companies worldwide.

Turnover for the year was €100 million.

In Europe, RELEX added premium beauty retailer DOUGLAS in Germany, Costa Express and M&S Food in the UK and Ireland, beauty retail group Sephora in France, and grocery retailer Samkaup in Iceland.

In the USA, it landed discount chain Dollar Tree and convenience store chain Kum & Go as customers.

And in Australia, supermarket chain Coles Group, and the Middle East, Qatar Duty Free and Majid Al Futtaim.

More than 90% of RELEX Solutions’ turnover comes from outside its home market of Finland.

Finnish convenience store chain @RkioskiOfficial partners with RELEX to improve store forecasting and replenishment, promotion forecasting, and mobile collaboration between stores and central teams. #retail #supplychain https://t.co/TQsYyLh5Cb
— RELEX Solutions (@RelexSolutions) November 9, 2021

Co-founder and Group CEO Mikko Kärkkäinen says: “Covid-19 continued to present ongoing problems and challenges for retailers during 2021 – from supply chain difficulties and unexpected surges in demand for products, to a drop in footfall in stores and a rise in home delivery requests.”

“Retailers are coming to terms with these changeable market conditions and are adapting their business models.”

“They’re turning to RELEX as an independent technology provider and a trusted source of expertise and insight to help reduce overheads, streamline operations, and boost competitive advantage, with the aim of increasing their sales and profitability.”

In 2022, meanwhile, RELEX is embarking on a range of new projects with partners in the booming quick commerce space, including global delivery services providers Delivery Hero and JOKR, plus German grocery delivery provider Flink.

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