{"id":9539,"date":"2022-05-17T16:49:47","date_gmt":"2022-05-17T14:49:47","guid":{"rendered":"https:\/\/retail-optimiser.de\/relex-acquires-promotion-planning-specialist-formulate\/"},"modified":"2026-01-27T11:42:50","modified_gmt":"2026-01-27T10:42:50","slug":"relex-acquires-promotion-planning-specialist-formulate","status":"publish","type":"post","link":"https:\/\/retail-optimiser.de\/en\/relex-acquires-promotion-planning-specialist-formulate\/","title":{"rendered":"Relex acquires promotion planning specialist Formulate"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9539\" class=\"elementor elementor-9539 elementor-9529\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4a0659d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a0659d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bda03d4\" data-id=\"bda03d4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-72f6610 elementor-widget elementor-widget-text-editor\" data-id=\"72f6610\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\">Relex Solutions has acquired Formulate, a Swedish promotion planning and analytics company. The wish to be able to plan promotions no longer in silos, but fully integrated with the planning of the basic assortment, was frequently heard from the circle of Relex users. One of the joint users of Formulate and Relex is the Swedish Coop, whose V\u00e4rmland region is one of Relex&#8217;s early customers in the field of inventory optimisation, but also staff planning.<\/p>\r\n<p style=\"text-align: left;\">With this acquisition, retailers will benefit from improved planning and optimisation capabilities for each stage of the promotion process with the help of proprietary AI, machine learning, and advanced analytics in an easily accessible and understandable way. Founded in 2016, Formulate offers world-class AI-based analytics for evaluating, predicting, and planning retail promotions.<\/p>\r\n<p style=\"text-align: left;\">The company\u2019s customers have reported a 15 per cent profit improvement on promoted items, 75 per cent time saved per person per week on promo analysis and forecasting, and 20 per cent sales uplift on promoted items. Formulate\u2019s customers include Coop in Sweden and Estonia, Mathem, and Reitan Convenience (Pressbyr\u00e5n and 7-Eleven in Norway).<\/p>\r\n\r\n<h3 style=\"text-align: left;\">Relex is growing rapidly<\/h3>\r\n<p style=\"text-align: left;\">The acquisition by Relex Solutions comes on the heels of a 500 million Euros funding round led by funds managed by Blackstone Growth (BXG), Blackstone\u2019s growth equity investing business \u2014 the largest growth funding round ever raised by a Finnish growth company.\u00a0\u00a0The acquisition will strengthen the Relex supply chain and retail platform and allow the Formulate software to reach a more extensive global network of customers.\u00a0In 2021, Relex grew its customer base to over 350 clients and almost doubled its software revenue bookings. Relex\u2019s clients include Aldi Nord, Rossmann, dm Drogeriemarkt, die Rewe Group, Douglas, MediaMarktSaturn, B\u00fcnting, Franprix, PetSmart und Sephora.<\/p>\r\n<p style=\"text-align: left;\">\u201cNow, more than ever, retailers and brands need promotion planning and optimization that adapts to a fast-paced consumer environment and uncovers the true effect of promotions,\u201d\u00a0said\u00a0Andreas Willgert, Co-Founder and CEO of Formulate.\u00a0\u201cThat\u2019s why we\u2019re excited to partner with Relex and accelerate our growth and reach a wider customer base.\u00a0Formulate will be fully integrated into the unified Relex Living Retail Platform, which will allow us to bring this great technology to more retailers across the globe, helping retailers and brands achieve marked results in their promotion planning.\u201d<\/p>\r\n<p style=\"text-align: left;\"><\/p>\r\n<p style=\"text-align: left;\">\u201cRelex and Formulate offer valuable services that are already very aligned, and between both companies, we have a great deal in common, including many of the same customers. This acquisition will strengthen our product portfolio in an area where our business is experiencing high customer demand,\u201d\u00a0said\u00a0Mikko K\u00e4rkk\u00e4inen, Relex\u2019s Group CEO.\u00a0\u00a0\u201cTheir cutting-edge, innovative promotion planning solution and highly skilled promotional experts will be a great cultural fit for Relex and a perfect addition to our suite of solutions. We are excited to help bring this technology to the global retail market and improve our customers\u2019 experience.\u201d<\/p>\r\n<p style=\"text-align: left;\"><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Relex Solutions has acquired Formulate, a Swedish promotion planning and analytics company. One of the joint users of Formulate and Relex is the Swedish Coop, whose V\u00e4rmland region is one of Relex&#8217;s early customers in the field of inventory optimisation, but also staff planning.<\/p>\n","protected":false},"author":4,"featured_media":9532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[36],"tags":[1095,481,201,1454,757,53,386,1088,1090,292,1089,1091,1094,1093,250,100,333,819,321],"class_list":["post-9539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-7-eleven-norway-en","tag-aldi-nord-en","tag-buenting-en","tag-coop-estonia-en-2","tag-coop-svergie-sweden-en","tag-dm-drogeriemarkt-en","tag-douglas-en","tag-formulate-en","tag-franprix-en","tag-mathem-en","tag-mediamarktsaturn-en","tag-petsmart-en","tag-pressbyraan-en","tag-reitan-convenience-en","tag-relex-en","tag-rewe-group-en","tag-rossmann-en","tag-sephora-en","tag-symphony-retailai-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Relex acquires promotion planning specialist Formulate - Retail Optimiser<\/title>\n<meta name=\"description\" content=\"Relex Solutions has acquired Formulate, a Swedish promotion planning and analytics company. 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