CTT – Correios de Portugal, S.A. signed a partnership agreement with YunExpress, the logistics business unit of the Chinese company Zongteng Group, according to both parts.
The deal will “create a joint venture that aims to manage the business of a locker network for parcel pick-up in Portugal and Spain. It will “develop CTT’s leading network of lockers for e-commerce in Portugal, which
will be open to any carriers”, the Portuguese company said.
CTT will have a majority stake of 66% in the new company and YunExpress’s stake will be 34%, the companies said.
“CTT plans to install 1,000 lockers by the end of 2022, thus offering the largest and most widespread national network of lockers that will be part of the current network of more than 2,000 CTT Pick-up Points where clients can collect their parcels”, the company said.
This business will represent a joint investment of around 8 million euros over a 3-year period. YunExpress is a CTT customer and partner, being a cross-border aggregator from Asia, with strong logistics expertise. The locker network will also be supported by a group of different national suppliers, from metal work to software, allowing greater autonomy and technological agility.
“As a solution of enormous convenience for both those who sell and those who buy online, the lockers will also complement the CTT pick-up point network, with an innovative solution, strengthening CTT’s differentiated positioning in the entire e-commerce value chain and reinforcing CTT’s close connection with its customers”, the company added.