iler Rewe will invest €1.5 billion to revamp its German stores and expand its internet offering, Chief Executive Alain Caparros told Frankfurter Allgemeine Sonntagszeitung.Rewe's push to overhaul its offering comes as traditional retailers fight with internet companies for shoppers' cash in Europe's largest economy.
"We are primarily investing in the modernisation and organic expansion of Rewe and Billa and in the repositioning of Penny in Germany. This modernisation incentive will boost business," a Rewe spokesperson said in a statement released on Monday.
In April, Rewe said it was looking to accelerate investment in its domestic online grocery service this year. The group started its online grocery delivery service in Munich in early summer. It operates the service from Hamburg, Berlin, Cologne, Dusseldorf and Frankfurt.
Outside of its domestic market, in May, Rewe confirmed plans to invest further in its Romania operations over a two-year period.
