Relex Solutions hits €100 million turnover for 2021

Relex Solutions has reported a turnover of €100 million in 2021, after expanding its retail customer base.

The retail optimisation technology provider added 34 retailers to its customer base last year, bringing its total roster to over 350 companies worldwide.

In 2020, Relex partnered with M&S to implement AI machinery, Costa Express, Pets at Home, German beauty retailer Douglas, Sephora in France and grocery retailer Samkaup in Iceland.

Further partnerships include discount chain Dollar Tree and convenience store chain Kum & Go in the US. Supermarket chain Coles Group in Australia and Qatar Duty Free and Majid Al Futtaim in the Middle East will also be joining the list.

Over 90% of the award-winning company‘s turnover is earned outside its home market of Finland.

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“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,” commented Relex co-founder and group chief executive officer Mikko Kärkkäinen.

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

M&S Food commercial director George Wright spoke highly of the retail software consultants, saying: “Relex’s ability to quickly deliver insight and accuracy across forecasting, ordering and allocation within a single platform will significantly increase the efficiency of our day-to-day business operation.”

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