(Adds CEO’s full name in paragraph 3)
PARIS, Feb 25 (Reuters) - French cooperative group InVivo aims to expand its new internet platform for farm products to reach at least 3 billion euros ($3.25 billion) in sales by 2030, as it brings in partners from other countries and adds new products, it said on Tuesday.
Betting on more digitalisation in agriculture, InVivo invested 50 million euros in developing Aladin, which was launched last year as a marketplace for farm supplies along the lines of online retailer Amazon.
Aladin sells seeds and pesticides to nine cooperatives representing 50,000 farmers and aims to reach 100,000 farmers in the 2020/21 season and sales of 100 million-120 million euros, Chief Executive Thierry Blandinieres said.
Online sales would initially come by replacing direct sales for such products that now total to 1.2 billion euros, before expanding into new offerings, Blandinieres said.
“We will go 360 degrees around the farmer and propose agriculture machinery, equipment, services like insurance, and this is where we will be able to reach a second phase to attain 3 to 4 billion euros in 2030,” Blandinieres told reporters at the Paris farm show.
InVivo, a grouping of some 200 agricultural cooperatives, is presenting the project to other cooperatives in northern Europe and Switzerland and hopes to reach a deal with at least one of them within a few months, Blandinieres said.
This would likely be through a contract to use the platform rather than a joint venture, he said.
InVivo generated sales of 5.2 billion euros in its 2018/19 year to June 30 from its activities that also span grain trading, garden retailing and wine distribution.
After selling its animal nutrition unit Neovia to U.S. agribusiness group Archer Daniels Midland in 2018, InVivo had said it would invest in farming solutions and acquisitions in the wine sector.
$1 = 0.9227 euros Reporting by Sybille de La Hamaide; Editing by Edmund Blair
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