CTT, Portugal’s post office, on Friday launched a new brand in Spain, in an investment of 12 million euros, with the ambition to grow 70% in three years and become the leader in the cross-border express and parcel market.
“We think we are far below our natural market share in Spain and we have no doubt that we will be leaders in the cross-border market [between Portugal and Spain],” said João Bento, the executive president of CTT, after the presentation of the new brand.
CTT in Portugal are leaders in the express and parcel business, while in Spain they only have a 3% market share.
“It is in the cross-border market [mail that crosses the border] that we are well positioned and we aspire to be market leaders,” João Bento insisted, explaining that the strategy for the coming years is to grow in the Spanish market, which is about eight times larger than the Portuguese in this sub-sector.
“If all goes well” in the area of express mail and parcels, “in a few years the turnover in Spain will be higher than in Portugal”.
CTT’s Spanish subsidiary company, Tourline Express, from now on changes its name to CTT Express and becomes part of the Portuguese CTT Expresso.
According to data from CTT, the new company inherits a shipment volume of more than 30 million per year and an annual Iberian turnover of 125 million euros in the express and parcel segment.
The strategic plan foresees an investment of 12 million euros in new facilities, distribution optimization technology and digitalization.
Last Monday in Lisbon, João Bento presented the new positioning of the brand in Portugal, where the company is the universal postal operator, presenting itself as the market leader in mail and in the distribution of express and parcels and also carries out financial services activities.