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.