Sainsbury’s has agreed to sell the Argos brand and associated intellectual property for a sum of £120 million. The deal sees the ownership of the iconic high street name transfer to a sourcing group, marking a significant shift in the supermarket’s asset portfolio.
Despite the change in ownership, the immediate impact on consumers is expected to be minimal. Under the terms of the agreement, Sainsbury’s will retain ownership of the physical Argos stores located within its supermarkets. Furthermore, the retailer will continue to hold the rights to sell Habitat products and maintain the integration of the Nectar loyalty points system within the Argos offering.
Source: BBC News