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Cacashop expands warehouses in Australia
Photo: Cacashop
The cross-border e-commerce platform has acquired five Australian warehousing companies for a staggering sum of AUD 37.12 million (EUR 23.3 million), significantly augmenting its logistics, product supply service and storage capability in Australia. It also speeding up its expansion in the global market, Cacashop said.
As of now, the company, which is based in Malta, has established over 2,000 overseas goods storage centres and more than 70 large-scale warehousing service centres.
The acquisition of the five warehousing companies is anticipated to increase the company's storage capacity in Australia by 37%. Simultaneously, it will dispatch over 200 additional personnel to Australia to manage the associated operations.
With soaring online shopping rates, Australia’s e-commerce market, still far from saturation, is growing steadily and offers a substantial potential for development, Cacashop added. (ben)