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Ecommerce

Marks and Spencer, Ocado sign GBP 750 mln deal

Thursday 28 February 2019 | 10:29 AM CET

UK-based retailer Marks and Spencer has agreed on a joint venture with online grocery retailer Ocado that would give Marks and Spencer a full online food delivery service.

Under the deal, Marks and Spencer will buy a 50% share of Ocado’s UK retail business for up to GBP 750 million (USD 994 million). The two retailers said customers will benefit from access to a broader range of products.

Marks and Spencer, a 135-year-old retailer, currently sells wine, flowers, and clothes online, but does not offer a full delivery service for its food. The joint venture will trade as Ocado.com but benefit from access to the Marks and Spencer brand, products, and customer database starting from September 2020 – at the latest.

Earlier in 2019, Marks and Spencer has introduced an image searching capability to its mobile site to allow mobile customers to find products they like by using other photos.

More: Link
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