FLASH Group Company Ltd. is targeting at least P23.7 billion revenue in the Philippines this year as it continues to expand its operations nationwide, amid the continued rise of the e-commerce logistics industry post-pandemic.
AR Polinar, marketing deputy director of Flash Express, hinted such a ballpark figure as they seek to reach an average volume of at least one million per day, or a total of 300 million in terms of parcel delivery by end of 2024.
āSo if you will compute that we are operating at lowest or competitive shipping fee at P79, thatās our total target revenue,ā he told reporters during their media briefing in Taguig City last March 7.
According to Flash Express PR & Partnerships Manager Reginald Rex Pumihic, the Thai e-commerce logistics firm has witnessed rapid growth since it started operations in the Philippines via Flash Express in 2021.
āIn just more than two years, the company already hit 95 percent serviceable areas nationwide, disrupting the e-commerce logistics industry by providing excellent delivery services among Filipinos,ā he noted.
Seeing constant demand for logistics services in the country at present, the Group is ready to embark on greater heights this 2024 as it continues to disrupt the e-commerce with the addition of three more products and services, namely, Flash Home that extends business opportunity to every enterprising Filipino through a partnership, Flash Fulfillment that deals with goods storage, and Flash Pay that offers small and medium enterprises (SMEs) automated financial services like electronic payment and monies.
To bring these new offerings closer to businesses like SMEs and end-customers, the company plans to build more facilities and grow its manpower, per Flash Express Country People Head Alvin Chew.
As of January 2024, the firm has 28 sorting hubs, 736 distribution centers and 27 pick-up distribution centers in the Philippines.
āSite-wise, we are definitely looking to grow at 30 percent,ā he said of their goal to have around 1,000 warehouses and distributions centers. āOf course, once we grow our operational sites by 30 percent, thatās when we need to increase our manpower as well,ā Pumihic said.
The Group has 24,000 employees nationwide as of the first quarter of 2024. The headcount is expected to increase by 50 percent this year-end.
Its customers in the country has grown over the years, with 4,819 key accounts to dateāthanks to major e-commerce clients like Lazada, Shopee, the Tiktok Shop, and Shein. Such number is projected to double by end of this year.
The company is bullish on its growth targets since demand for e-commerce logistics remains strong.
In fact, 38.88 million Filipinos bought goods online via the internet based on statistics in January 2021, and the amount of good purchased by Filipinos via the internet amounted to $3.55 billion in 2020 per data reported by Hootsuite and We Are Social.
āThis means that the logistics business would also prosper because if there is no logistics, then these goods purchased online cannot be delivered. So, hand in hand, if the e-commerce industry would grow, the logistics business would also grow and prosper,ā said Flash Home Area Manager Van Thadeus Cruz.
Forward looking, Flash is hoping to fully cover the entire country by next year and, at the same time, the entire Group plans to become publicly-listed in a western country.
āBy far, we are more than ready to be to listed in the market. So our CEO Komsan Saelee actually has planned to list this company by 2025. But again, it really depends on how well we perform in the Philippines. So, hopefully, we can share more services for suppliers so they can instantly grow also,ā Chew stressed.
Image credits: Contributed photo