Kerry Indev Express Launched Amidst Great Fanfare in Mumbai
Kerry Indev Express was launched by Kerry Indev to improve last mile connectivity in India with an expected investment of Rs 500 crore over two years. The launch is consistent with Kerry Indev’s target of doubling its topline to Rs 3,000 crore by FY21.
The launch of Kerry Indev Express will help the company cash in on the growing e-commerce sector with last mile connectivity. The last mile connectivity will help the Chennai-based company expand its reach, with eight specific services, each catering to different B2B and B2C segments under the brand name of Kerry Indev Express.
Speaking on the launch, Kerry Indev Logistics chairman S Xavier Britto said, “We are launching our express service today which will enable us to reach the doorsteps of consumers,”
“The company has now touched all the points in the logistics chain and is expecting revenue to double to Rs 3000 croreby FY21 from Rs 1,500 crore now. We have made strategic investment in Velex Logistics, which is involved in supporting and auxiliary transport activities for courier services.
With this we get access to their 3,000 pincodes which we want to increase to 6,000 by this December. We will continue to make investments in the next couple of years to expand our presence in e-retailing and e- commerce segments,” Mr. Britto added.
“Also, the company has already announced plans to invest Rs 500 crore over the next two-three years for expanding its presence as well as to enter global markets. Most of the capex will be funded through internal accruals. But once we reach the Rs3000-crore revenue milestone, we will think of launching an initial public offer,” Mr. Britto said.
Kerry Indev Express was introduced to the gathering by Mr J. Sivasankaran, Director, Kerry Indev Logistics and Mr Yogesh Patel, Managing Director, Velex Logistics.
The just launched express service will operate through over 200 centers, with 1,500 staff and a fleet of vehicles in the first phase and will also focus on technology-driven delivery solutions like parcel lockers.
“The new vertical will cater to the process and time sensitive delivery requirements of e-tailers as well as pharma, automobiles, engineering and telecom businesses,” signed off Mr. Britto.
Mr N. Sivasailam, IAS, Special Secretary (Logistics), Union Ministry of Commerce & Industry, was the Chief Guest at the function. And the event was also graced by Mr Anant Swarup, Joint Secretary (Logistics), Union Ministry of Commerce & Industry. Both of them addressed the gathering and lauded Dr Britto for starting this new venture to boost expeditious logistics in the country.
The cross-section of the trade gathered was also addressed by Mr Robert Tan, Managing Director – South & Southeast Asia, Kerry Logistics Management (Asia) Pte. Ltd, Singapore, and Dr Vimalarani Britto, Secretary & Correspondent, St. Britto’s Group of Schools & College, and Founder, Seek Foundation.