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Target (TGT) Acquires Delivery Tech Company Grand Junction
16 August 2017, 03:28 | Maryann Sutton
Target Agrees to Buy Software Firm to Compete With Amazon
As part of the agreement, Grand Junction's 13 employees will relocate a few blocks to Target's downtown San Francisco office and set about helping the retailer bring delivery to more areas.
The same-day delivery service is already being tested at Target's store in Manhattan's Tribeca neighborhood, but it is expected to expand to other stores in New York City by October, and to additional cities in the USA early next year. The price that Target intends to pay for Grand Junction has not been disclosed.
Target said on Monday that it plans to bring the same-day delivery pilot to a few more NY stores this fall.
"It's a thrill to join a brand like Target, especially at a time like this when the company is dedicated to making supply chain and local delivery a game-changer", added Rob Howard, Grand Junction's founder and CEO.
"We'll leverage Grand Junction's platform ... to become even faster and more efficient in how we get products to our guests", Arthur Valdez, Target's chief supply chain and logistics officer, said in a statement.
"Whether guests shop online or in a store, they expect to get products quickly and on their terms", said Valdez, who was hired away from Amazon in May.
Target Corporation (TGT - Free Report) announced Monday that it is acquiring the transportation tech company Grand Junction to expand its delivery capabilities.
Valdez told the Minneapolis Star Ledger that a new Target distribution center in Perth Amboy, NJ will help it service the NY area using a faster, real-time replenishment model. Amazon and Walmart.com shoppers can choose from a variety of delivery options, including, in some cases, speedy same-day delivery, and Target wants their customers to have these options as well.
When the deal is closed, Howard will become vice president of technology at Target. "By acquiring scalable technology, Target balances their competitive profile".
Target partnered in 2015 with Instacart to establish same-day deliveries of groceries. "At some point, all retailers will need to grapple with the integration of physical footprints with digital store fronts".
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