Tuesday, 22 May, 2018

Ocado entering USA market through technology deal with Kroger

American Flags Ocado has been ramping up its international ambitions with a new US tie-up
Preston Stone | 17 May, 2018, 17:32

Online retail specialist Ocado has signed its fourth global deal, with the announcement that it will be supplying its Ocado Smart Platform technology to Kroger in the US.

Tim Steiner, Ocado's CEO, used the announcement to underline his belief "Ocado's unique, proprietary and industry-leading technology is set to transform the shopping experience of consumers around the world".

Britain's online supermarket Ocado clinched a game-changing deal with Kroger as its exclusive partner in the US, securing its entry into the world's biggest market and sending its shares up 50 percent.

The Kroger (NYSE:KR) announced an exclusive partnership agreement with online supermarket Ocado in the United States.

Now, the two companies are working to identify the first three sites for the development of new, automated warehouse facilities and will identify up to 20 sides over the first three years of the agreement. In the event of a failure to commit to the target capacity, Kroger will pay compensation to Ocado.

The agreement, Kroger's response to Amazon's purchase of Whole Foods, takes Ocado's home-delivery platform into the U.S. for the first time and marks the fourth major deal it has signed with supermarkets in six months.

Buffon confirms he will leave Juventus after 17 years
I've seen plenty of them down the years, so all that I ask for is your respect and affection towards me on the day". He has previously hinted that he will retire at end of the season but did not disclose this on Thursday.

Ocado has broken off talks with other U.S. supermarket chains following the deal with Kroger.

Under the terms of the deal, Kroger has discontinued discussions with other retail tech firms, will pay Ocado a monthly consultancy fee and is to acquire a five per cent stake in Ocado.

The retailer's efforts to create a "seamless digital experience" for customers would speed up as a result, he added.

It has also inked a deal with a yet-to-be named European retailer.

'A significant milestone in this strategy was marked in November past year when the company announced its first overseas deal with France's Groupe Casino supermarket brand - providing the company with the necessary kit and technology to launch its own online offering.

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