History

Kesko was formed when four regional wholesaling companies that had been founded by retailers - Savo-Karjalan Tukkuliike, Keski-Suomen Tukkukauppa Oy, Kauppiaitten Oy and Maakauppiaitten Oy - were merged in October 1940.

1940

Establishment of Kesko

The new Kesko company started operating at the beginning of 1941. The need to purchase goods for the shareholder-retailers and to support their business operations and start cooperation among them resulted in the forming of the K-retailer group. The active building of the K-store network was started and joint advertising was launched. The K-emblem was introduced as the new group's symbol.

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1950

Period of growth

The rationing of goods and regulation of imports retarded the growth of trade during the first years of the 1950s. Towards the end of the 1950s, when restrictions were removed, the building of speciality store networks was started to complement the general stores. Kesko played a significant role in developing the store formats. At first, the main emphasis was on establishing a hardware store network and a warehousing system for the hardware products offered by Kesko. In addition, big efforts were made to develop the trade in agricultural supplies and machinery.

 

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1960

A new course

The retail trade in foodstuffs underwent great changes during the 1960's. As Finnish people became less self-reliant in terms of their daily grocery needs, fresh foods were added to stores' selections, and the trend was for general stores to evolve into food stores.

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1970

Information technology spurs growth

In the 1970s Kesko continued to grow steadily, in the foodstuffs trade in particular. A new store format - the supermarket - was successfully launched. Further steps were taken to strengthen the speciality store network. The responsibility for developing store formats was transferred to the commercial divisions. Kesko and the K-retailers entered the retail trade in the fields of home and speciality goods and hardware products. The Kesport chain was established. The first Citymarket hypermarket was opened in Lahti in 1971.

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1980

New investments and new owners

The 1980s represented a period of heavy investment for Kesko. Building projects included new business premises for the branch offices in Turku and Oulu, a new central warehouse and several large retail stores. The share capital was increased to finance these investments. The number of shareholders grew by 20,000.

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1990

Chain operations start

Kesko was changed significantly by the establishment of new grocery store formats and the transfer to chain operations. Centralisation continued. The number of district units dropped to five, and they mainly engaged in the grocery trade. The forming of chain units and profit groups, and the incorporation of operations, created a more customer-oriented, profit-targeted operating model.

 

 

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2000

A time for internationalisation

Entry into the Swedish and Baltic markets that had started in the mid-1990s gained momentum at the turn of the millennium. Major spearheads in the internationalisation process were the retailing of hardware and builders' supplies and the K-rauta format. Kesko also expanded its agricultural business to all Baltic countries, becoming a market leader in the area in a very short time.

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2010

Online trade grows

For shopping customers, the internationalisation of retailing has meant a wider choice and ease of purchasing. In the 2000s, the increased use of the Internet and the online retail revolution have made shopping easier and led the trading sector to a new turning point.

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Updated 08.08.2016
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