CTT – Correios de Portugal developed with YunExpress, the Chinese Zongteng Group logistics business unit, a partnership agreement creating a joint venture to manage a parcel lockers’ business network to receive parcels in Portugal and Spain. CTT will have a 66% majority stake in the new company. YunExpress will have 34%.

This partnership intends to be the leader e-commerce parcel lockers’ network in Portugal, open to any operator. CTT wish to install 1 000 extra parcel lockers until the end of 2022 and become the owner of the widest and most comprehensive parcel lockers’ network, already counting with more than 2 000 CTT delivery outlets wherecustomers may collect their parcels.

The business will represent a joint investment of around 8 million euros within 3 years.

YunExpress is CTT’s partner and customer, as well as an international traffic cluster coming from Asia with a wide experience in logistics. The parcel lockers’ network will also be supported by a group of different national suppliers, from metal-mechanics to software, which will enable a wider technologic agility and autonomy.

As an enormous convenience solution both to the online buyer and seller, the lockers will also complete CTT delivery outlets’ network with an innovating solution. This will reinforce CTT’s differentiated position in the e-commerce value chain and CTT’s proximity connection with its customers.