Sky joins the race against supermarket waste
British broadcasting giant has invested in an innovative online grocery service that aims to create a "circular economy" of branded premium household items.
29 October 2019 | 0
While media giant Sky may not be known for being in the FMCG space, the company has become the latest to join the race against waste, with an investment in a next-generation grocery delivery service described as a “modernised milkman”.
Through its Sky Ocean Ventures arm, Sky is investing $2m (€1.8m) in Loop, a zero-waste shopping service that sees customers take delivery of branded household products in reusable, returnable containers. The aim is to create a “circular economy” that moves consumers and businesses away from single-use plastics.
Loop has already begun working with major players in grocery inculding P&G, Nestle, Body Shop and Unilever to deliver a diverse range of products including ice cream, shampoo and more.
Loop is Sky Ocean Ventures’ largest investment to date, and is expected to launch in the UK during 2020.
“Loop fundamentally changes the way we approach packaging and waste,” said Jeremy Darroch, group chief executive of Sky. “The transition to a circular economy will take time, but big ideas like this can and will help change the world our children will inherit.”