FedEx Express to expand retail footprint in India

Ina bid to further increase its presence in India, FedEx Express, a subsidiary of FedEx Corp, has inked a pact with Germany- based financial technology company Wirecard.

Published: 10th April 2018 01:01 AM  |   Last Updated: 10th April 2018 06:39 AM   |  A+A-

File Photo for Representational Purposes. | Photo: AP

By Express News Service

CHENNAI: In a bid to further increase its presence in India, FedEx Express, a subsidiary of FedEx Corp, has inked a pact with Germany- based financial technology company Wirecard.

“The company will expand to 1,000 locations within Wiredcard SmartShop network by end of this year”, a company statement said. Wirecard India, Director, Manoj Sahu formally exchanged documents with FedEx Express, vice-president (Ground Operations), Philip Cheng as part of an alliance at a function here.

Under the terms of the agreement, FedEx customers will be provided with convenient and secure package pickup and dropoff services across select Wirecard stores, said Cheng.

“Wirecard with its robust network of retail outlets and a wide base of customers, is an ideal fit for FedEx and provides customers with enhanced access to our international and domestic shipping solutions”, Cheng added.

The agreement was signed in the wake of Amazon.com Inc’s success with its transportation business in India.

The e-tailer, while weeding out dependence on third-party retailers like FedEx and United Parcel Service, has been investing heavily to penetrate into tier 2 and 3 cities in India.

FedEx, which expects India’s logistics sector to grow by nearly 60 per cent in 2019, has already expanded to 220 Wirecard stores across Karnataka, Kerala, Tamil Nadu, Andhra Pradesh and New Delhi.

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