CEVA Logistics and Fnac Darty have signed an agreement to form a joint venture, with the ambition of becoming a major player in the e-commerce logistics and SaaS marketplace in Europe.
The new joint venture, based on the expertise of Fnac Darty and CEVA Logistics, will be called Weavenn. It is to offer a unique, fully integrated service combining the best technology solutions for marketplace platforms and efficient logistics services for multi-channel distribution. The innovative offering will meet all the needs of e-commerce players, including comprehensive management of marketplace platforms, direct-to-consumer sales or omnichannel delivery.
By combining these potentials and the two brands, customers will benefit more. Fnac Darty Group has a network of nearly 1,000 stores, a team of 6,200 sales staff and a proven omnichannel model with 24 million unique users visiting its website each month. CEVA Logistics, on the other hand, is a global leader in 3PL logistics, with a branch network in more than 170 countries and a globally recognized order fulfillment platform, Shipwire.
“With more than one billion orders by 2022, e-commerce has become an integral part of our logistics business and expertise. By partnering with an industry leader like Fnac Darty, which is highly regarded for its quality of service to consumers, we can create a fulfillment solution that leverages the best technology solutions and is able to support the growth of the market, meeting e-commerce merchants’ requirements for efficiency, accessibility, transparency and visibility.” – says Mathieu Friedberg, CEO, CEVA Logistics.
Enrique Martinez, CEO, Fnac Darty, adds, “More than 40 million French people already trust the Fnac Darty group, and our brands have been successfully changing the face of e-commerce for more than a decade, offering customers an omni-channel service that is recognized throughout the retail world. Fnac, a pioneer in this field, launched a marketplace using its own technology solution back in 2009. Similarly, Darty is known for its unique expertise in after-sales service, and has recently been recognized for the quality of its last-mile deliveries, as well as its handling of returns and second-hand products. Joining forces with CEVA, a global leader in logistics, means striving to provide customers with high-value-added services. We are confident that together we will set new standards of quality and efficiency for our retail partners and millions of individual customers.”
The new partnership demonstrates the determination of both companies to strengthen their position in the European market, valued at around 80 billion euros and estimated to grow at more than 10% per year. Over the next five years, the joint venture could generate sales in excess of 200 million euros, with double-digit operating margins. The planned cooperation will take the form of a 50/50 joint venture between Fnac Darty and CEVA Logistics. It is scheduled to begin operations in 2024, following approval by relevant regulatory authorities.
