French retail giant Fnac Darty and CEVA Logistics have signed an agreement to establish a joint venture with the ambition of becoming a major European player in the e-commerce logistics and SaaS marketplace market.
The Weavenn joint venture will offer a fully integrated service combining online marketplace technology and high-performance logistics for multi-channel distribution. The e-commerce offering will cover the complete management of marketplaces, direct sales to consumers, and omnichannel delivery.
The joint venture will bring to customers the power and credibility of both companies: the Fnac Darty group, with a network of nearly 1,000 shops, coupled with a proven omnichannel model with 24 million unique monthly visitors to its websites, and CEVA Logistics, a world leader in third-party logistics, with a network covering more than 170 countries and an internationally recognized fulfillment platform, Shipwire.
Mathieu Friedberg, CEO of CEVA Logistics, said, “With over one billion order lines by 2022, e-commerce has become a central part of our logistics business and expertise. By partnering with an industry leader such as Fnac Darty, recognized for the quality of its service to consumers, we can create a fulfillment solution that benefits from the best technological solutions and is capable of supporting the growth of the market, by meeting the requirements of e-commerce sellers in terms of efficiency, accessibility, transparency and visibility.”
Enrique Martinez, CEO of Fnac Darty, added, “More than 40 million French people now place their trust in the Fnac Darty group, and for more than a decade now our brands have been successfully turning the corner on e-commerce to offer an omnichannel customer experience that is recognized throughout the retail world. Fnac, a pioneer in this field, launched its marketplace using its own technological solution back in 2009. Similarly, Darty is renowned for its unique expertise in after-sales service and has recently been recognized for the quality of its last-mile delivery as well as its take-back offers and its second-hand products. Joining forces with CEVA, a world leader in logistics, means pursuing the quest for high-value-added services for our customers, which is at the heart of our Everyday strategic plan. We are convinced that together we will set new standards of quality and efficiency for our retail partners and our millions of individual customers.”
Over the next five years, the joint venture could generate sales in excess of €200m (US$212m), with a double-digit operating margin. The envisaged cooperation would take the form of a 50-50 joint venture between Fnac Darty and CEVA Logistics, operational from 2024, subject to approval by the relevant authorities.
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