Lotte Shopping partners with Ocado of Britain to expand e-grocery biz

SEOUL– Lotte Shopping Co. said Tuesday it has partnered with Britain’s Ocado Group Plc., a leading online grocery tech platform provider, to strengthen its e-grocery business.

Through the partnership, Lotte Shopping, the retail arm of South Korea’s fifth largest conglomerate Lotte Group, plans to invest around 1 trillion won (US$705.2 million) to build six automated logistics centers across the country by 2030 using technology provided by Ocado, the company said.

Ocado offers an e-grocery management solution called “Ocado Smart Platform,” which provides an end-to-end e-grocery delivery solution, from accepting orders to packing and logistics for grocers.

Lotte Shopping said it targets to record an annual sales figure of 5 trillion won in the online grocery delivery service by 2032.

Source: Yonhap News Agency

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top