Early Life
Odd Reitan was born in Trondheim, Norway, on September 11, 1951, to Ole Reitan and Margit Aarhaug, who were single-store grocers. Growing up in this environment instilled in him a deep understanding of the grocery business from an early age.
Rise to Success
In 1972, Reitan began his entrepreneurial journey by opening his first shop in Trondheim, in collaboration with his father. This marked the beginning of what would become a significant business empire. His career took a major turn in 1979 when he founded the REMA 1000 grocery chain. The chain quickly expanded across Norway and later into Denmark, Sweden, Poland, Hungary, and Slovakia. Reitan's leadership and strategic vision were instrumental in the growth and success of REMA 1000.
Key Business Strategies
The Reitangruppen's success is built on several key strategies, including a franchise-based model, focus on low prices, and efficient operations. REMA 1000's emphasis on simplicity, along with private-label products, has helped the chain maintain low costs for customers. The company has also invested in technological advancements to streamline operations and enhance the customer experience. His sons, Ole Robert and Magnus, hold key roles within the family business, contributing to its continued growth and success.
Philanthropy
In 2013, Reitan demonstrated his philanthropic spirit by awarding Norwegian kroner 2 million to Anlov Mathiesen, recognizing Mathiesen's work in increasing the self-respect of street magazine vendors. His philanthropic efforts reflect a commitment to social causes and community development.