Marks and Spencer: startup of joint venture with Ocado
(CercleFinance.com) - On Monday Marks and Spencer announced the official launch of business for its joint venture with online food distributor Ocado, the scope of which was unveiled in February.
This kick-off coincides with today's finalisation of the supermarket chain's acquisition of 50% of Ocado Retail, their joint venture specialising in the online sale of food products in the UK.
From September 2020, three-quarters of Britons will be able to have their products delivered, by ordering them on the Ocado.com platform. This features all the 6,500 product references that make up the M&S food catalog.
The partnership between M&S and Ocado has so far been limited to about a dozen stores.
In early afternoon trading the M&S share; is down almost 2% in London.
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