Poste Italiane strengthens e-commerce presence with stake in Sengi Express

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Poste Italiane and Cloud Seven Holding, which owns cross border e-commerce provider Sengi Express, have announced that they have signed a binding framework agreement to strengthen their partnership in the e-commerce market between China and Italy.

The framework agreement foresees the acquisition by Poste Italiane of a 51% stake in the voting share capital of Sengi Express, a Cloud Seven subsidiary based in Hong Kong. The company specializes in cross-border logistics solutions for Chinese e-commerce merchants active in Italy, with a turnover of approximately €80m (US$97m) in 2020.

Cloud Seven states that Sengi Express offers a complete range of services to Chinese e-commerce businesses, tailored to the specific needs of each merchant, on the basis of the most competitive commercial solutions available for every stage of the logistics chain connecting China and Italy. Through its network of agreements with leading logistics operators, the company says it is able to offer full logistic chain services in China, with real-time full tracking of each single shipment from the China hub to final customers in Italy.

“This transaction boosts the Group’s strategy of customer experience enhancements,” commented Matteo Del Fante, Poste Italiane CEO and general manager, “with the aim of developing and capitalizing on e-commerce flows. This is a historic milestone in Poste’s opening process to international markets with the inclusion of an overseas company for the first time within the Group. With this agreement we can further diversify our revenues, also at an international level, and continue our growth strategy through partnerships in the most fruitful areas of business.”

Nelly Han, sole director of Cloud Seven, added, “This transaction is the natural evolution of the partnership we have been enjoying with Poste Italiane over the last few years, whose services we proudly and successfully promote with our Chinese customers. We are very happy to become part of an important listed Group, and we are confident that we will successfully manage this attractive challenge.”

 

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Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

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