Poundworld has emerged as a surprise partner to single-price point etail venture Poundshop.com, the yet-to-launch business set up by Poundland co-founder Steve Smith.

Poundworld has confirmed it will create and operate the venture with Smith.

Poundworld will also supply Poundshop.com with thousands of lines of stock available in its stores. This will include own brand as well as branded products.

The Poundshop.com is expected to launch as early as next month. The two companies feature similar branding to one another.

The partnership represents a new strategic step for Poundworld which has previously said it would not launch online due to the substantial overheads associated with the channel. Poundworld instead launched a wholesale website, Discount Wholesale, to supply market stall holders and independent value retailers.

Retail Week revealed last week that Poundshop.com will have a minimum order value of around £20 with a delivery charge on top, although the exact amount is yet to be decided.