Daily Newsletter

06 October 2023

Daily Newsletter

06 October 2023

Fnac Darty and CEVA to establish JV for e-commerce logistics

The JV is expected to generate more than €200m in sales over the next 5 five years.

Jangoulun Singsit October 05 2023

European retail company Fnac Darty has entered into an agreement with global firm CEVA Logistics to create a 50-50 joint venture (JV) for e-commerce logistics and the SaaS marketplace.

Named Weavenn, the JV would combine marketplace technologies with high-performance logistics to offer fully integrated services for multi-channel distribution.

According to CEVA Logistics, the integrated service will offer direct sales to consumers, omnichannel delivery and complete management of marketplaces to fulfil the needs of e-commerce players.

The partnership highlights the companies’ commitment to strengthening their European market position.

The JV is subject to approval from the relevant authorities and is expected to be operational from 2024.

It is expected to generate more than €200m ($209.83m) in sales over the next five years.

Fnac Darty chief executive officer Enrique Martinez said: "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.

“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.”

The Fnac Darty group operates a network of nearly 1,000 shops and registered 24 million monthly website visitors.

CEVA Logistics, a subsidiary of the CMA CGM Group, has a presence in more than 170 countries.

Luxury goods, digitalization, and personalization identified as key drivers of the duty-free retail market

Per GlobalData, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.

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