Aeon Ties Up with British Online Retailer

Economy

Tokyo, Nov. 29 (Jiji Press)--Aeon Co. <8267> said Friday the Japanese retail giant has struck a business partnership deal with major British online retailer Ocado Group PLC.

Aeon aims to boost its sluggish online superstore business by setting up a new firm by next March to capitalize on know-how of the London-based firm, which operates a huge cutting-edge warehouse using artificial intelligence and robots and an elaborate home delivery network.

A state-of-the-art distribution center will start its operation by 2023, Aeon also said, expressing hope that the tie-up with Ocado will help push up its online superstore sales to 600 billion yen by 2030 from the current level below 100 billion yen.

Aeon Chief Executive Officer Motoya Okada told a press conference in Tokyo that the domestic "online supermarket business has a big growth potential."

"We will carry out a substantial reform of our business," he noted.

[Copyright The Jiji Press, Ltd.]

Jiji Press