The multimillion pound venture will be led by Amanda Scott, currently head of buying for beauty and accessories at John Lewis.
She will become managing director, working closely with Marie Claire's publishing director, Justine Southall. Southall said the new venture will be "the perfect combination of content provider, consumer and commerce".
Jackie Newcombe, managing director of Time Inc UK's luxury brands, said: "Time Inc UK's strategy is to harness the incredible trust that consumers have in our brands and to offer new products and services to fulfil their needs.
"Marie Claire's influence in the beauty sector is unparalleled, both with consumers and beauty companies, and especially now that the way that women are buying beauty products is changing rapidly.
"Our beauty proposition will reflect those changes and we will offer outstanding service, thanks to the partnership with Ocado, who have expertise in this area without equal."
Scott said the trust consumers have with Marie Claire gives it natural leverage to move into retail, particularly within this category.
Marie Claire has editions in 36 countries and has been published in the UK since 1988 in partnership with French publishing company Groupe Marie Claire.
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