trending Market Intelligence /marketintelligence/en/news-insights/trending/qq-x2ptmprxn7_vcukjrda2 content esgSubNav
In This List

X5, Sovcombank explore JV to develop parcel locker network

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Essential IR Insights Newsletter Fall - 2023


X5, Sovcombank explore JV to develop parcel locker network

X5 Retail Group NV said Sept. 4 that it is exploring a possible joint venture with privately held PJSC Sovcombank to build a network of parcel lockers that will handle packages purchased from online stores.

The proposed venture would see parcel lockers installed in X5 stores over the next five years. It would also allow the company to start testing a collaborative logistics model, the release said.

In addition, X5 expects to benefit from an increased flow of parcels and packages following the launch of an in-house fulfillment center.

The Russian supermarket chain said it is seeking approval from the country's Federal Antimonopoly Service to take a 50% stake in TsTB, a company owned by Sovcombank, in relation to the joint venture.

TsTB owns and operates 450 parcel lockers under the Halva brand is looking to expand its network to more than 1,500 lockers.