Press Releases

Sonae and CTT create an e-commerce platform

Sonae and CTT will move forward with a partnership related with e-commerce, through the establishment of a joint venture that aims to exploit a new platform in marketplace model.

The agreement was signed today and aims at the constitution of a company with the following shareholders: Sonae (50%), leading company in retail, and CTT (50%), leading company in the mail and express & parcels sectors. The implementation of the project involves an investment of €10 to €15 million in the first years of operation, equally split between the two parts.

Both companies have complementary competences that will leverage the creation of a marketplace to provide integrated services for the intermediation of commercial relations between sellers and consumers.

The creation of this "Marketplace” represents a strong commitment to develop the e-commerce sector, focusing on SMEs and Portuguese brands, through a positioning based on proximity, a simple, safe, and convenient shopping experience, and a comprehensive online offering of products and services by a growing number of companies.

This initiative is a further step in Sonae’s e-commerce strategy and fits the Group’s strategic pillars, namely: (i) strengthen and leverage Sonae’s key assets and competencies and (ii) diversify business and investment approach.

The conclusion of this agreement is conditional on the authorisation decision by the Competition Authorities.
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