Shearman & Sterling advised Qxpress Pte. Ltd. on its acquisition of Korchina Logistics Holdings Limited. The transaction closed on October 1, 2021.
Qxpress is a pan-Asia cross-border logistics company with an extensive global supply chain network and distribution centers in nine countries including Japan, Korea and Singapore. Its logistics solutions are used by sellers on some of Asia’s leading e-commerce platforms. Korchina is an international freight forwarding and third party logistics company headquartered in Hong Kong. Its network spans 17 countries and covers markets including Japan, Korea, China, Thailand, and Singapore.
Qxpress will be able to provide key expanded services for Korchina’s extensive customer base, including access to D2C logistics capabilities and an expanded footprint for an end-to-end logistics platform, including integrated warehouse services as well as pick and pack and fulfilment services. Qxpress expects to benefit from the expanded geographic network of Korchina as well as long-term business relationships with vendors and other partners that will allow for reduced freight and customs related processing costs.