£6bn London startup expands into Europe via Primark partnership
Zeus, the London based startup which is disrupting the freight industry with its next-generation digital platform, has expanded into Europe after signing up the pioneering international fashion retailer, Primark. The partnership, which will see Zeus handling freight transport for the retailer on distribution routes to France, Italy and the Czech Republic, comes as Zeus recently marked its second anniversary. Under the agreement, Zeus is starting with distribution to destination stores in Italy and fixed ad hoc work to Czechia and France.
Primark currently has over 400 stores globally, employs more than 70,000 people in 14 countries, with 20 stores in France, 11 in Italy and two stores in their newest market of the Czech Republic. Zeus was founded in 2020 by young entrepreneurs Jai Kanwar and Clemente Theotokis, and has since undergone "phenomenal growth", serving 40 enterprise-level clients handling over 600,000 tonnes of cargo annually worth circa GBP6bn. The firm experienced a 100 per cent conversion rate from manufacturers who trialled their platform in 2021, which offers a near 'zero-touch' approach to managing road freight, with complete end-to-end tracking, reconciliation, and system integrations.
(L - R): Zeus co-founders Jai Kanwar and Clemente Theotokis. The platform also reduces road freight administration for both shippers and hauliers, while helping carriers grow quickly with fast payment terms and a generous loyalty programme that includes 50 per cent discounts on premium Apollo and Vredestein truck tyres and prepaid service cards. Zeus, which aims to reduce the industry average of 30 percent of trucks running empty to just five per cent by 2025, achieved a 326 per cent growth in total volume in 2021, and is on track to deliver a 400 per cent growth in revenues by the end of 2022.
Chief commercial officer at Zeus, Sam McGuirk, commented: "Primark is a great example of how quickly our unique model and freight platform can be applied into new countries. "New verified haulage firms join daily, and we already have over 10,000 trucks signed up. We met Primark's need for high volume market activation and hope to further build on this relationship."
Alistair Lindsay, chief operations officer at Zeus, added: "Primark is our latest European client and represents a huge step for Zeus, which we are taking ahead of schedule.
This client needed a rapid solution and our technology, teams and unique mixed model approach delivered this."
By Matthew Neville - Correspondent, Bdaily
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