Waitrose sets out £1 billion online shopping plan
The upmarket grocer is working with e-commerce platform Today Development Partners as it prepares to part ways with Ocado.
Waitrose has revealed a £1 billion plan to expand its online operations as it prepares to part ways with delivery partner Ocado.
The upmarket grocer is partnering with e-commerce platform Today Development Partners (TDP) to succeed its 20-year Ocado partnership with plans to treble the size of its online business.
TDP was co-founded by Jonathan Faiman, who was one of those behind the creation of Ocado, and former chief business officer for Google’s innovation arm Google X, Mo Gawdat.
Under the plans, Waitrose will develop three new state-of-the-art automated customer fulfilment centres (CFCs) over the next three years.
The new partnership follows Ocado striking a £1.5 billion deal with Waitrose rival Marks & Spencer to drive its online offer.
As a result of this deal, Ocado’s sourcing agreement with Waitrose will end in September 2020.
I am more excited about this new venture than anything I’ve done in my career Jonathan Faiman
Waitrose and Partners managing director Rob Collins said: “Waitrose.com is a popular and efficient home-delivery service that is already growing strongly ahead of the market.
“The plans announced today represent a clear commitment to achieving rapid step-change in Waitrose.com’s capacity and capability as we build a modern, well-invested digital business that is fit for the future.
“The development of our new CFCs will triple our delivery capacity, bringing our well-loved service and delicious food to more customers across the UK and setting Waitrose.com on the path to becoming a £1bn turnover business.”
Mr Faiman said: “I am more excited about this new venture than anything I’ve done in my career.
“I am delighted and privileged to be back within the John Lewis Partnership family and we will deliver for Waitrose.com customers the world’s best digital home delivery service.”