Maersk and Castlery sign multi-year global logistics and fulfilment agreement
Maersk has entered into a partnership with Castlery, a Singaporean furniture retailer, for a multi-year global integrated logistics and fulfilment agreement, according to the company's release. By leveraging Maersk’s capabilities in managing supply chains amid ongoing disruptions, the partnership will enable Castlery to offer seamless delivery for its customers, reducing wait times for orders to one to two months, approximately three times faster than the industry average of three to six months.
As Castlery expands into international markets including Australia and the United States, which contributed to 80 percent of the firm’s total revenue, Maersk’s landside facilities and expertise in these markets will create additional values for Castlery to optimise time and cost savings at various points across the logistics and fulfilment chain.
In the partnership agreement, Maersk will help Castlery scale its business in the US across 50 metropolitan areas with secured ocean capacity, improved integration between freight and warehousing fulfilment efficiencies, and more transparent data sharing that leads to strengthened inventory management.
Castlery’s international expansion has allowed the brand to leverage the global demand from discerning, internet-savvy urban millennials for affordable modern furnishing. Catering to the needs of this fast-growing international customer base, Castlery is partnering with Maersk to further expand its warehouse capacity, with two more new warehouses in the US set to open by the end of 2022. Globally, Castlery intends to increase its total warehouse capacity by five times, with Maersk as a key partner in this build out.
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As on of the global leaders in shipping services, the company operates in 130 countries and employs approximately 100,000 people.
