Reports: Is Ocado Looking to Partner with Marks & Spencers?
UNITED KINGDOM - Kroger’s partner, Ocado, has reportedly been talking to UK-based Marks & Spencer (M&S) about a potential grocery supply deal. A partnership with Ocado, The Mail on Sunday first reported, would give the struggling retailer a chance to pull itself out of the grocery hole.
Given that the two companies have held talks regarding a partnership, one wonders what may become of Ocado’s current partnership with Waitrose. As of now, the contract between the two is set to dissolve in September of 2020.
M&S has been hitting a wall, so to speak, when it comes to expansion plans. The retailer closed 100 stores by 2022 as part of its latest bid to halt a decline in its revenue. Although it has thus far been fairly quiet on the grocery delivery front, M&S allegedly wants to launch a £1 billion delivery service (approximately $1.3 billion USD).
A source reported to The Mail that Archie Norman, M&S Chairman, needs to do something “transformational to make his mark at M&S, and he is running out of time.”
Ocado and Kroger made headlines last May when they announced that their partnership would yield distribution centers, or automated warehouse facilities, to best fulfill Kroger’s online delivery capabilities.
Will Ocado enter into this agreement with Marks & Spencers, and will the partnership look similar to the one it has with Kroger? Will it pull M&S back from the brink? AndNowUKnow will keep its eyes peeled to the newswire.
