The Ocado-Coles online supermarket deal will see two robotic distribution centres — or customer fulfilment centres (CFCs) — built and go live within four years, in Sydney and Melbourne.
Deal is Ocado’s fifth partnership overseas in 18 months and has seen its share price maintain its meteoric rise to hit a record highFILE PHOTO: A man walks from the main reception of the Ocado CFC in Andover, Britain May 1, 2018. Picture taken May 1, 2018. Picture: REUTERS / PETER NICHOLLS
The Coles deal will see two robotic distribution centres — or customer fulfilment centres as Ocado calls them — built and go live within four years, one in Sydney and one in Melbourne. Though Ocado has only a 1% share of Britain’s grocery market, its £9bn stock market valuation has been driven by the technology side of its business — providing international retailers with the infrastructure and software to develop their own online grocery businesses to compete with the likes of Amazon.
“Ocado’s best-in-class proposition, built upon years of developed know-how and technological expertise, positions it well for further outperformance in the UK and monetisation overseas,” said RBC Europe analyst Sherri Malek.
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