27th Sep 2021 10:34
MusicMagpie PLC - Stockport, Manchester-based technology resaler - Expands partnership with supermarket chain Asda Ltd. Includes putting 300 SMARTDrop kiosks in stores in 2022 following successful trial of 15, and affiliate agreement for customers to buy and sell pre-owned consumer technology and media items through Asda's digital channels. Hopes to create "circular ecosystem". Current partnership has seen pre-owned DVDs and CDs available to buy in Asda stores since August 2020.
"We are thrilled that a business of Asda's prestige and national reach has recognised the value of MusicMagpie's unique circular economy model, and is now prepared to scale up our partnership so decisively and quickly," says MusicMapie Chief Executive Steve Oliver.
Current stock price: 171.85 pence, down 13% from IPO price in April
By Josie O'Brien; [email protected]
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