Aramex to expand its e-commerce business in partnership with other logistics and technology companies

Aramex’s CEO Hussein Hachem has recently said that the Dubai-based firm is pursuing partnerships with logistics and technology companies to expand its e-commerce business after it posted a 3% drop in its third-quarter net profit.

The company, which was formed in 1982 as an express wholesaler, and now operates across 60 countries, expedited its plans in July to expand business into other sectors after two investor groups, led by Dubai billionaire Mohamed Alabbar, bought a combined stake of 16.45% in it.

“Looking ahead, we are pursuing partnerships with innovative logistics and technology companies to further transform Aramex into a leading technology enterprise, grow our e-commerce proposition and sustain ably expand the business,” said Aramex chief executive Hussein Hachem.

Aramex recently said that it had established a joint venture e-commerce company with Australia Post, in a move that could herald a new expansion drive by the company.

Alabbar has previously said that he is keen to harness Aramex’s footprint in logistics and transport to build an e-commerce platform across the Arab world comparable to Alibaba, in areas such as banking and retail.

Aramex recently announced that it has made a net profit of Dh72.2 million ($19.7 million) in the three months ended September 30. This compares with a profit of Dh74.6 million in the same period a year earlier.