Spain’s Glovo inks real estate tie-up to add more dark stores for speedy urban delivery
Natasha Lomas@riptari / 11:30 AM GMT+1•January 19, 2021
Spain’s Glovo, an on-demand delivery app, has announced a strategic partnership with Swiss-based real estate firm, Stoneweg.
The deal will see the latter invest €100 million in building and refurbishing “prime city real estate” in some of Glovo’s key markets as the delivery app works to build out its network of dark stores and sign up more retail partners for its urban delivery service, it said today.
The initial focus for the partnership will be on growing its dark stores network in Spain, Italy, Portugal, Romania, with additional countries slated as under review in Europe.
Glovo currently operates 18 dark stores globally — in cities including Barcelona, Madrid, Lisbon and Milan — but said it’s now looking to open similar stores in Valencia, Rome, Porto and Bucharest, among others.
It wants to have 100 dark stores up and running by the end of 2021, it added.
Last September the startup announced the sale of its LatAm ops to food-delivery focused rival Delivery Hero for $272 million — leaving it more fully focused on Southern and Eastern Europe.
As well as supermarkets such as Carrefour, Continente, and Kaufland, Glovo’s list of retail partners includes the likes of Unilever, Nestle and L’Oréal, and IKEA — so it’s by no means focused purely on groceries.
It has said it wants Q-Commerce to power delivery of a wide range of products — from toys, music, books, flowers and beauty products to pharmacy items and groceries. And even, in some markets, a curated selected of IKEA wares — i.e. stuff that’s small enough to fit in couriers’ backpacks.
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