Ocado renews Waitrose partnership ahead of floatation
A renewed deal with Waitrose has enhanced online supermarket Ocado’s preparation for a flotation expected next year.
Under the deal, agreed yesterday, Ocado will retain rights to sell Waitrose goods, using its branding until 2020.
The previous deal was set to end in 2013. The terms prevent Ocado from commercial partnerships with other supermarkets. Waitrose introduced its own free internet service delivery, Waitrose Deliver, last year.
Tim Steiner, Ocado CEO, said, “This new agreement enables both sides to continue to grow and benefit from the relationship.”
Over the past year, Ocado has launched iPhone and Android versions of its mobile app for mobile shoppers and outlined intentions to extend its geographical reach.
According to figures released in March, Ocado saw an yearly 22% increase in gross sales from £341m to £427.3m.
This story first appeared on newmediaage.co.uk
