The Fnac Darty group, specialist in the distribution of household appliances, electronics and cultural products, has signed an agreement with CEVA Logistics, a subsidiary of the French group CMA CGM, for the creation of an e-commerce logistics company called Weavenn.
The two entities announced on Wednesday “the signing of an agreement to establish a joint venture” with the ambition of “becoming a major European player in the market for e-commerce logistics” and software solutions for digital markets ( “SaaS Marketplace”).
Weavenn “would offer a unique and fully integrated offer, which combines the best technological solutions on the market and efficient logistics for multi-channel distribution,” according to a joint statement, and aims to generate “more than 200 million euros” in billing and business. “show a double-digit operating margin”, “within 5 years”.
“Operational from 2024”
Specifically, “the planned cooperation would take the form of a 50/50 joint venture between Fnac Darty and CEVA Logistics, operational from 2024, subject to approval by the competent authorities,” the two companies further indicate.
Fnac Darty employs more than 25,000 people in nearly 1,000 stores (987 at the end of 2022) located in 13 countries and achieved a turnover of around €8 billion in 2022, of which 22% was online. As for CEVA Logistics, it is present in 170 countries with nearly 110,000 employees for a “pro forma turnover of $18.7 billion in 2022” or approximately €17.4 billion as of December 31, 2022.
Source: BFM TV
