Ocado Group set to expand into clothing and homeware to accelerate growth

By Johan De Mulder

Retail industry disruptor Ocado Group is aiming to expand operations into the clothing and homeware sectors as part of its growth strategy.

The online grocer, which has seen its share price increase by over 250% in the last year alone, will utilise its state-of-the-art warehouse technology to broaden its service to different industries.

According to The Guardian, it recently opened a second non-food warehouse in London while it already operates the online service for Dobbies garden centres, one of its early ventures outside of its core business.

See also:


"We need to focus not just on what we have to do today but we have to make sure we innovate for the future," said chief executive Tim Steiner. "There’s a big market in food but we are also exploring other applications where our skills at moving things are just as useful as they are in the food market."

The British firm has also been transforming itself into a technology company having signed major agreements with some big companies over recent months. 

In January, it partnered with Canadian retailer Sobey's to help improve its online grocery platform and home delivery solutions and in May it signed a major partnership with Kroger, a deal that it expects to 'transform' the retail technology sector.

Share

Featured Articles

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Octopus Energy continues to grow after a deal was agreed to acquire Shell Energy in the UK and Germany, taking its customer base to almost seven million

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance

UAE Lulu Group shifts business for global growth and IPO

Corporate Finance