JD.com, China’s largest retailer by revenue, is reportedly one of several companies bidding on Evri, one of the UK’s largest parcel delivery companies.
Evri is currently owned by Advent International, a private equity firm (75%), and Otto Group, a German mail-order company (25%). Validated at $2.55 billion, including debt, Retail Insight Network reports that Evri’s majority shareholder is exploring a potential sale.
According to Reuters, JD.com is not the only heavyweight bidder in the process. Alibaba has confirmed that its logistics arm, InPost, and Cainiao are also in the second stage of the bidding process.
JD.com’s interest in Evri
JD.com is no stranger to Evri. In January, it signed a partnership with the delivery company.
Evri is helping JD.com with local pick-up, warehousing, international transportation, access to Chinese bonded warehouses, customs clearance, and comprehensive delivery across China.
Evri has also helped the company gain insights into the Chinese market while leveraging its local distribution network.
ALSO READ: Evri moves to larger facility in Tyneside
Evri’s focus on green delivery
Evri has heavily invested in going green in the city with parcel deliveries. It’s spending $24 million on electronic cargo bikes for deliveries. Over the next few months, it’s expected to boost its 33 e-bike fleet to 99 and nearly double its electronic vehicle (EV) fleet.
As one of the UK’s largest couriers, Evri handles more than 720 million parcels each year.
China’s e-commerce market
China’s e-commerce and parcel delivery markets are spiking, with more than 80 billion parcels handled in the first six months of 2024. The country has been focusing on expanding its global market for some time, connecting domestic online sellers with international buyers.
In May alone, China handled 15 billion consignments. In 2023, it handled 120 billion parcels in 12 months. It’s expected to surpass this number by the end of December.
NOW READ: Evolution of e-commerce logistics: meeting growing demands
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Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
