Portugal's Sonae Group Launches E-Commerce Platform With CTT
Portuguese retail group Sonae, which owns banners such as Continente, has announced an e-commerce partnership with the national postal service of Portugal, CTT.
The joint venture, which will see the creation of a digital marketplace platform, will involve a €10 to €15 million investment in the first phase of operation, equally split between the two partners.
CTT is a public limited company which offers mail and express parcel service within Portugal.
‘The creation of this 'Marketplace' represents a strong commitment to develop the e-commerce sector, focusing on SMEs and Portuguese brands, through a positioning based on proximity, a simple, safe, and convenient shopping experience, and a comprehensive online offering of products and services by a growing number of companies,’ Sonae said in a release.
It emphasised that this new endeavour in its e-commerce strategy fit the group’s strategic pillars, which include advancing and leveraging Sonae’s key strengths, and diversifying its business and investment approach.
The completion of the deal is conditional on the approval of the relevant competition authorities.
The agreement between Sonae and CTT follows a raft of similar deals between retailers and delivery providers. French retailer Carrefour recently partnered with Google to boost its online shopping business, while online retailer and services provider Ocado announced a partnership with US retailer Kroger in May, following the penning of similar deals with Groupe Casino and Sweden's ICA.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: European Supermarket Magazine.