J&T Express

Last updated
J&T Express
J&T Express
Industry
Founded2015;9 years ago (2015)
FounderJet Lee
Tony Chen  OOjs UI icon edit-ltr-progressive.svg
HeadquartersIndonesia, Vietnam, Malaysia, Thailand, Philippines, Cambodia, Singapore, China, UAE, Saudi Arabia, Brazil, Mexico, and Egypt
Area served
13 countries
  • Indonesia
  • Malaysia
  • Vietnam
  • Philippines
  • Thailand
  • Cambodia
  • Singapore
  • China
  • Mexico
  • Brazil
  • Saudi Arabia
  • United Arab Emirates
  • Egypt
Key people
Jet Lee (CEO)
Website https://www.jtexpress.com/en OOjs UI icon edit-ltr-progressive.svg

J&T Express is an international delivery company founded in August 2015 in Jakarta, Indonesia. Its core business is express services and cross-border logistics.

Contents

With over 300,000 service personnels worldwide, J&T Express’ network spans 13 countries including China, Indonesia, Vietnam, Malaysia, Thailand, the Philippines, Cambodia, Singapore, the UAE, Saudi Arabia, Brazil, Mexico and Egypt.

History

J&T, whose Chinese name means "speedy rabbit", was founded in 2015 by entrepreneurs Jet Lee, former CEO of Oppo Indonesia, and Tony Chen, [1] who had founded the smartphone brand in 2004. [2]

In 2018, the company expanded into Malaysia and Vietnam; then the Philippines, Thailand and Cambodia, in 2019; Singapore and China in 2020; [3] [4] and the UAE, Saudi Arabia, Mexico and Egypt in 2022. [5] It received Indonesian Top Brand Awards in 2018 and 2019. [6]

In March 2021, the company launched J&T Express premium air freight, its first all-cargo aircraft. [7] By November, J&T had raised an additional US$ 2.5 billion, with a valuation of US$ 20 billion and investments from Boyu Capital, Hillhouse Capital Group, Sequoia Capital China, and Tencent Holdings. Reports indicate that J&T is planning to go public in Hong Kong in 2022, [4] [8] and that CICC, Bank of America and Morgan Stanley are preparing its IPO. [9] In December 2021, the company acquired the logistics operations in China of rival BEST Inc. for about 6.8 billion yuan (US$ 1.1 billion). [10]

In early 2022, J&T expanded into Saudi Arabia and the UAE, [11] then Latin America, with a new facility in Mexico. [12] In February 2022, at LEAP, the company announced plans to build its MENA regional headquarters in Riyadh, Saudi Arabia, where it intends to construct the largest smart logistics industrial park in the region. [13] [14] That June, it expanded its network into 13 countries with the launch of J&T Express Egypt. [15]

In 2019, J&T was the fourth-largest delivery company, and the eighth unicorn in Indonesia. [16] As of April 2021, the company was valued by investors at US$ 8 billion. [17] In December 2021, the company was ranked as the 16th-largest unicorn in the world on the Hurun Index. [18] It is one of the two decacorns in Indonesia. [19]

COVID-19 pandemic

The COVID-19 pandemic in Indonesia resulted in a 50% increase in J&T deliveries during Ramadhan 2020, compared to the previous year, and its handling of up to three million packages each day. [20]

J&T Express has given aid packages to cities severely affected by the outbreak, such as Surabaya [21] and Tangerang. [22] Medical aid packages were also given to hospitals.

Controversy

After a video went viral of workers throwing packages in 2020, J&T Express Philippines stated that it would sanction personnel involved in mishandling the packages. [23] [24] Similar video showing J&T Express Indonesian workers also circulated on the Internet in 2019. [25]

Media Konsumen, an Indonesian consumer complaints platform, received multiple letters from local organized crime ring complaining about faulty sorting and lack of transparency and accountability in J&T Express delivery tracking, resulting in customers' packages being lost or sent to wrong delivery addresses. [26] [27] [28]

On 4 February 2021, videos of protests and rioting at J&T Express Malaysia warehouses circulated on Malaysian social media channels. [29] J&T subsequently issued a statement that the incident had resulted from a misunderstanding about bonus payments, and not due to a pay cut, as previously alleged online. [30] The following week, the incident was attributed to additional workload, combined with employee payment concerns by the Ministry of Human Resources. [31] Several workers also recorded an apology video to J&T Express and customers, stating that there had been no deductions or wage issues between the company and employees of J&T Express Perak. [30]

See also

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References

  1. ↑ Qu, Tracy (18 April 2021). "A brutal price war is ravaging couriers in China's live-streaming e-commerce hub, where not even SF Express is spared". scmp.com. South China Morning Post. Retrieved 14 July 2022.
  2. ↑ Thu, Huong Le (9 February 2022). "The Oppo factor in J&T Express' early success". Tech In Asia. Retrieved 14 July 2022.
  3. ↑ Azka, Rinaldi Mohammad (2019-06-19). "Baru 4 Tahun Berdiri, J&T Express Diam-Diam Sudah Rambah 5 Negara". Bisnis.com. Retrieved 2020-06-27.
  4. 1 2 Li, Jiaxing; Mulia, Khamila (2021-12-30). "Boom or bust? The story of J&T Express in China". KrASIA. Retrieved 2022-01-11.
  5. ↑ Diela, Tabita (24 February 2022). "Indonesia's J&T Express launches ops in Mexico, bets big on overseas expansion". dealstreetasia.com. Nikkei Group. Retrieved 13 July 2022.
  6. ↑ "Empat Tahun Berkiprah, J&T Express Torehkan Segudang Prestasi". KOMPAS.com (in Indonesian). 31 December 2019. Retrieved 2020-06-27.
  7. ↑ "J&T Express ventures into air cargo with first preighter". payloadasia.com. Harvest information (Payload Asia). 8 March 202. Retrieved 13 July 2022.
  8. ↑ Wu, Kane; Potkin, Fanny; Murdoch, Scott (2021-11-24). "Indonesian courier startup J&T raises $2.5 billion ahead of Hong Kong IPO-sources". Reuters. Retrieved 2022-01-11.
  9. ↑ "Indonesia's J&T Express Eyes Shifting IPO From U.S. to Hong Kong". bloomberg.com. Bloomberg News. 27 August 2021. Retrieved 13 July 2022.
  10. ↑ Deng, Iris (30 October 2021). "Indonesia's J&T Express buys Chinese rival Best's logistics business amid price war centred in manufacturing hub of Yiwu". scmp.com. South China Morning Post. Retrieved 14 July 2022.
  11. ↑ "J&T Express Launches Express Network in the UAE and Saudi Arabia". handily.com. Pandaily. 7 January 2022. Retrieved 13 July 2022.
  12. ↑ "J&T Express Enters Latin American Market and Launches Network in Mexico".
  13. ↑ "J&T Express Sets up Its MENA Regional Headquarters in Saudi Arabia and Signs a MoU on the Largest Smart Logistics Park in the Region". www.prnewswire.com. 1 February 2022. Retrieved 2023-03-17.
  14. ↑ Gordon, Miguel (2 February 2022). "J&T Express, others to pour $6.4b into Saudi Arabia". techinasia.com. Tech In Asia. Retrieved 13 July 2022.
  15. ↑ "J&T Express launches network in Egypt, further expanding global footprint". www.zawya.com. 22 June 2022. Retrieved 2023-03-17.
  16. ↑ "Indonesia Courier, Express, and Parcel (CEP) Market | Size, Forecast (2019-2024)". www.mordorintelligence.com. Retrieved 2020-06-27.
  17. ↑ Zhang, Yunan; Osawa, Juro; Oster, Shai (1 April 2022). "Upstart Courier Service Raised More Than $2 Billion to Fight Alibaba-Backed Rivals". theinformation.com. Retrieved 2021-08-31.
  18. ↑ Hoogewerf, Rupert (20 December 2021). "Global Unicorn Index 2021". Huron.net. China: Hurun Research Institute. Retrieved 13 July 2022.
  19. ↑ Atwal, Kavika (December 22, 2021). "THE RATING OF J&T EXPRESS IS TWICE AS HIGH AS THAT OF GOJEK, RI NOW HAS 2 DEKACORNS?". thenewsonline.in. India: The News Online. Retrieved 13 July 2022.
  20. ↑ Junida, Ade Irma; Cindyara, Aria (29 May 2020). "Delivery company records 3 mln shipments during Ramadhan". Antara News. Retrieved 2020-06-27.
  21. ↑ Amenan, Amrozi (14 June 2020). "J&T Express Salurkan Bantuan Covid-19 kepada Pemprov Jatim". beritasatu.com (in Indonesian). Retrieved 2020-06-27.
  22. ↑ "J&T Express Tangerang Salurkan Bantuan APD dan Masker ke Rumah Sakit Rujukan Covid-19". BantenNews.co.id (in Indonesian). 2020-05-06. Retrieved 2020-06-27.
  23. ↑ "Video of packages being recklessly hurled an 'isolated case,' says J&T Express Philippines". Coconuts. 2020-06-24. Retrieved 2020-06-27.
  24. ↑ "Delivery company to sanction personnel seen 'mishandling' parcels in viral video". CNN Philippines. Archived from the original on 2021-01-07. Retrieved 2020-06-27.
  25. ↑ Bramasta, Dandy Bayu (4 January 2020). Wedhaswary, Inggried Dwi (ed.). "Viral Video Petugas Lempar Paket Kiriman Pelanggan, Ini Klarifikasi J&T Halaman all". KOMPAS.com (in Indonesian). Retrieved 2020-06-27.
  26. ↑ Anugerah, Ramdhan (2020-06-04). "Kecewa akan Layanan J&T Express! Paket Belum Tiba". Media Konsumen (in Indonesian). Retrieved 2020-06-27.
  27. ↑ Elthary, Dhani (2020-06-06). "J&T Express, Sudah 6 Hari Paketku Belum Sampai Juga". Media Konsumen (in Indonesian). Retrieved 2020-06-27.
  28. ↑ P, Leonardo (2020-06-03). "Service Level J&T Express Mengecewakan". Media Konsumen (in Indonesian). Retrieved 2020-06-27.
  29. ↑ Kaur, Kirat. "J&T Express Protests: What's Going On & How To Claim Your Money Back | TRP". www.therakyatpost.com/. Retrieved 2021-02-27.
  30. 1 2 Palansamy, Yiswaree (8 February 2021). "Perak J&T Express staff apologise for vandalism of customers' packages shown in online video (VIDEO)". malaymail.com. Malaysia: Malay mail. Retrieved 13 July 2022.
  31. ↑ "HR Ministry: J&T incident caused by heavy workload, employees' commission issue". malaymail.com. Malaysia: Malay mail. 12 February 2021. Retrieved 13 July 2022.
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