SingPost integrates TradeGlobal and Jagged Peak to create global ecommerce enabler
21.01.2016 326 views
SingPost is expanding its US logistics footprint by integrating TradeGlobal and Jagged Peak, in which it acquired controlling stakes in 2015.
The integration would lead to creation of SP Commerce, a global commerce enabler for brands and retailers, a SingPost statement said, dealstreetasia.com reports. 2015 saw SingPost acquire 96.4% of TradeGlobal for USD 168.5 million and a 71.1% interest in Jagged Peak for USD 15.8 million.
“The solutions that SP Commerce offer include end-to-end services spanning web store development and operations, global fulfilment, omni-channel order management, cross-border commerce, performance marketing, and customer care services,” SingPost stated.
Marcelo Wesseler, CEO of SingPost ecommerce, stated: “The launch of SP Commerce marks a significant milestone in SingPost’s transformation from a domestic postal service provider to a global eCommerce logistics enabler. We are well positioned to provide the gateway for brands and retailers.”
“Other than bringing businesses abroad, we are also focused on facilitating commerce in the domestic US market as we believe that a strong business foundation in the home market makes a solid springboard for global expansion,” he added.
With a portfolio of about 1,000 ecommerce clients globally, SingPost operates over 50 distribution centres across at least 18 countries. This includes major ecommerce markets in the US, Europe, China and the rest of Asia Pacific.
Additionally, SingPost maintains that it now provides end-to-end ecommerce logistics solutions to more than 100 mono-brands, which include Adidas and Calvin Klein. In terms of volume, SingPost shipped 4.6 million packages in cross-border ecommerce deals in November 2015, representing a 60% increase year-on-year.
SingPost processed about USD 3 billion in Gross Merchandise Value (GMV) annually through its ecommerce networks. ecommerce related revenue remains robust and was 29% of SingPost Group’s revenue for the half year ended 30 September 2015.
Source: The Paypers
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