Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • M&S and Ocado strike £1.5bn online grocery deal

M&S and Ocado strike £1.5bn online grocery deal

  • Categories Retail News, Top News
  • Date February 27, 2019
  • Comments 0 comment
""

Marks & Spencer has formed a £1.5bn online delivery joint venture with Ocado to bring M&S’s ready meals to internet shoppers for the first time.

M&S will pay £750m for a 50% share of Ocado’s UK retail business to form the new business, which will trade as Ocado.com. The venture will not start trading until September 2020 at the latest, when Ocado’s present deal to deliver Waitrose products expires. Only 10% of the products on sale at Ocado.com will be M&S-branded goods.

Steve Rowe, Marks & Spencer’s chief executive, said he had “always believed that M&S Food could and should be online” and combining M&S’s food with Ocado’s technology and delivery network was a “win-win” and “compelling proposition to drive long-term growth”. He added: “Our investment in a fully aligned joint venture with Ocado accelerates our food strategy as it enables us to take our food online in an immediately profitable, scalable and sustainable way.”

Tim Steiner, the chief executive of Ocado, described the deal as a “transformative moment in the UK retail sector” that would combine “two iconic and much-loved retail brands set to provide an unrivalled online grocery offer”. Steiner added also that the joint venture would allow Ocado to “grow faster, add more jobs, and create more value as we lead the channel shift to e-commerce here in the UK. We are very excited by the many opportunities ahead.”

Source: The Guardian

  • Share:
gsiino

Previous post

Taiwan 7-Eleven store launches Domino’s Pizza trial
February 27, 2019

Next post

H&M re-opens at Kings Mall shopping centre, London
February 27, 2019

You may also like

Celine
Celine Shop-In-Shop Opening – Paris
15 March, 2023
Private-LAbels-fashion-luxury
Private labels: the future of luxury department stores?
6 March, 2023
EUROSHOP_2023_WEB-1200×857
Euroshop 2023! Top 75 Specialists & Key Highlights
4 March, 2023

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Celine Shop-In-Shop Opening – Paris
15Mar2023
Private labels: the future of luxury department stores?
06Mar2023
Euroshop 2023! Top 75 Specialists & Key Highlights
04Mar2023
TOTEME Shop-in-shop in Seoul
03Mar2023
Y-3 opens its first ever store Down Under
03Mar2023

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy