M&S has announced the creation of a 50/50 JV with its home rival Ocado group. M&S will acquire a 50% share of Ocado’s UK retail business, supported by its smart platform. According to the agreement, Ocado will provide its e-commerce platform and transfer its retail customers, sales and supplier relationships, some vehicle assets and central retail functions to the JV. Also, Ocado will provide third-party logistics services. M&S will provide the best ranked quality food produ
27 Feb 2019
M&S gives in to online grocery failure and buys into Ocado
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M&S gives in to online grocery failure and buys into Ocado
Marks and Spencer Group plc (MKS:LON) | 265 0 0.0% | Mkt Cap: 5,377m
- Published:
27 Feb 2019 -
Author:
Rim BEN SALAH -
Pages:
2
M&S has announced the creation of a 50/50 JV with its home rival Ocado group. M&S will acquire a 50% share of Ocado’s UK retail business, supported by its smart platform. According to the agreement, Ocado will provide its e-commerce platform and transfer its retail customers, sales and supplier relationships, some vehicle assets and central retail functions to the JV. Also, Ocado will provide third-party logistics services. M&S will provide the best ranked quality food produ