Posted October 19, 2019 18:57:21India-based Snapdeal has signed an agreement with Accel Ltd.
to manage logistics services for its global e-tailers.
Under the terms of the agreement, Snapdeal will manage logistics for Accel, which is a global logistics and distribution company.
Snapdeal is expected to earn $1.8 billion in annual revenue by 2021.
Snapdeals global network, which comprises over 3,000 logistics businesses, is expected grow at a compounded annual growth rate of 12.7% from 2020 to 2021, the company said in a statement.
In the coming years, Snapdeals business will be expanded in several regions including India, the US, Latin America and Africa.
The agreement will support Snapdeal and its global network and accelerate the growth of the global logistics business.
Snapdeal will also invest in new technology to help its customers increase their productivity, and Snapdeal said it will build a global network to facilitate online payments and transactions.
The agreement was signed in New Delhi on October 12.