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In an effort to boost its cross-border logistics network, eBay has entered into a joint venture with Citic Private Equity Funds Management Co. Ltd. The ultimate goal is to speed delivery service to eBay’s customers around the globe.
The Debut of SpeedPAK
Orange Connect Holding, a unit of Citic, and eBay have agreed to start a company called Orange Connex Ltd. (OCL). In their first order of business, OCL has rolled out SpeedPAK, an eBay shipping program focused on cross-border activity and China-based eCommerce vendors.
Currently, SpeedPAK offers a total transit time of eight to 12 business days across all regions of the U.S. In the second quarter, the company plans to initiate service to a number of other countries. including Australia, United Kingdom and France.
How SpeedPAK Will Benefit eBay
John Lin, eBay’s global vice president of international cross-border trade, praised the partnership with OCL, saying that it will give eBay “end-to-end management of shipping processes” for a superior customer experience. He added that more buyers will be able to purchase high-quality, competitively priced products from China.
eBay is actually the second online retailing giant to take this proactive approach. In September 2017, Alibaba Group Holding announced plans for a $16 billion investment toward creating its own global logistics network.
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