Coop Denmark has announced that its newly established subsidiary Lobyco has entered into a partnership with Iceland-based retail group Samkaup.
The agreement will see Lobyco providing an online platform to help Samkaup communicate digitally with its customers.
Samkaup is one of Iceland's largest retailers, with a 25% market share, and operates more than 60 stores along with an online business.
'Expanding The Collaboration'
Executive director of retail operations at Samkaup, Gunnar Egill Sigurðsson, commented, "Samkaup and Coop Danmark have collaborated for more than 60 years, primarily with sales of Coop's own brands, but are now expanding the collaboration.
"Samkaup aims to [expand its digital presence] in Iceland. The agreement with Lobyco must help us realise that ambition. We expect that with the new solutions we will increase both revenue and number of customers."
Founded on 1 September 2020, Lobyco is an independent subsidiary of Coop that sells the unique digital solutions developed by the retailer.
It employs approximately 120 people who are engaged in the development and operation of digital solutions.
'Very Important Agreement'
Commercial director of Lobyco A/S, Anders Mittag, said, "For us, it is a very important agreement, and we look forward to working with Samkaup.
"This is the first we have entered into after the establishment, but we are currently experiencing great interest in our solution from retailers from large parts of the world."
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.