Online grocery stores are too small for Norway, and the name is no longer appropriate. So far this year, the company has also achieved profitability for the first time.
Karl Munthe-Kaas smiled and said, I am tired of all international speeches because we are not colonialists.
Since its establishment in 2013, Kolonial.no has become synonymous with online groceries in Norway. In 2021, Kolonial will leave the country, and then Kolonial.no will no longer apply.
Munthe-Kaas told E24 that he did not want to reveal which country was the first country, but he said that a new warehouse is being built in European countries these days.
There is always a risk in changing the name, and the experts have hardly slaughtered the name change several times when they started.
-Are you worried that customers will not like the name?
-People don’t like changes, so there may be some people who will express their opinions, but Kolonial does not work abroad and does not agree with the company we will become.
-What do you want to be?
-Groceries will always be the core of our work. It is no secret. We now sell goods from Clas Olson and cooperate with Milrab and others. We will continue this cooperation, Munthe-Kaas said.
The biggest question related to Oda’s business in Norway is how big the company must be before it can make money. So far, the company has a known cumulative loss since its launch of NOK 593.5 million. At the same time, during the period 2014-2020, the company’s turnover increased from zero to NOK 2 billion.
-This year, our weekly turnover exceeds 50 million Norwegian kroner. The e-commerce entrepreneur said that this is equivalent to about 50 Norwegian grocery stores, adding:
-So far this year, we are making money.
This e-commerce company has always been one of the biggest winners of the pandemic. During the pandemic, society is closed from time to time, and more and more consumers want to deliver goods to the door.
Whether Oda will have money at the end of 2021 depends on the bottom line, depending on how much the company spends on expansion in the country, but Munthe-Kaas said that the magic limit for online grocery shopping profits is plus or minus two, 500 million kronor.