Early Life
Odd Reitan was born in Trondheim, Norway, on September 11, 1951, to Ole Reitan and Margit Aarhaug, who were single-store grocers. His upbringing instilled in him a deep understanding of the grocery business from an early age.
Rise to Success
In 1972, Reitan opened his first shop in Trondheim, in collaboration with his father, marking the beginning of his entrepreneurial journey. In 1979, he founded the REMA 1000 grocery chain, which rapidly expanded across Norway and later into Denmark, Sweden, Poland, Hungary, and Slovakia. By 1990, every village in Norway with more than 10,000 inhabitants had a REMA 1000 shop.
Key Business Strategies
Reitan's key business strategies involved establishing a franchise-based, low-price concept tailored for the Norwegian market. This approach led to significant expansion and market dominance. His company, Reitangruppen, has expanded to encompass grocery and convenience stores across Scandinavia and the Baltic, employing over 38,000 individuals.
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.
