Warehouse robotics group AutoStore is reducing the upfront cost of its technology for customers in a bid to expand sales as the global economy slows and will persevere with its legal battle against UK rival Ocado.
Karl Johan Lier, chief executive of the SoftBank-backed Norwegian group valued at $6.5bn, and his 34-year-old successor Mats Hovland Vikse told the Financial Times in a joint interview that they expected strong growth in warehouse automation to continue even as ecommerce sales stagnate.
“Even though ecommerce and global trade are seeing a downturn, we as consumers will still buy online, and companies will still invest in automation. Only 15-20 per cent of warehouses globally have automation,” said Vikse, who took over will become chief executive on January 1.
AutoStore, whose customers include Ikea, Puma and Gucci, has had a difficult time since its stock market debut in October 2021, losing more than 40 per cent…
