Aramex has signed a multi-year agreement with US online jewellery retailer Bidz.com to offercost-effective shipping services to its customers in 15 Middle East countries.
The service will be launched sometime in the third quarter of 2009, Bidz.com said. Thecountries to be served include Bahrain, Cyprus, Egypt, Iraq, Jordan, Kuwait, Lebanon, Oman,Palestine, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates and Yemen.
“We look forward to extending the flexibility and convenience of Aramex’s shipping servicesto Bidz.com’s customers in the Middle East,” commented Donald G. Smith, President of Aramex, UnitedStates. “Through this agreement, Aramex will be able to provide connectivity and reliability byutilising its extensive network and cost-efficiency.”
“Aramex brings convenient, express shipping services that meet all of our customers’ needs,including up to the minute tracking information and 24 hour in-language customer service,” saidLeon Kuperman, President and Chief Technology Officer of Bidz.com. “We are committed to providinggreat service, as well as high-end brand name products to our valued Arabic customers in the MiddleEast. Given the strong demand for our products in the Middle East, we believe the combination ofAramex and the Bidz.com Arabic site will be a tremendous growth opportunity in 2009 and beyond.”
Founded in 1998, Bidz offers its products through a live auction format as well as a fixedprice online retail store, Buyz.com. As the largest brand name and jewellery auction, the onlineretailer offers 100% authentic jewellery, watches, sunglasses, and accessories from leading brands,including Faberge, Di Modolo, Gucci, Chanel, Valentino, Versace, and many more. Bidz.com’s auctionsare also available in Arabic, German and Spanish. Through these live auctions, the company sets theprice on brand names and jewellery items thus attracting millions of customers.
During the second quarter of 2009, Bidz.com net revenues dropped to $26.9 million, comparedto $55.0 million in the second quarter of 2008. The decrease was primarily a result of the slowingglobal economy, as well as a decrease in wholesale (B2B) merchandise sales falling to $0.5 million,compared with $8.4 million in the same period of 2008. As a percentage of total revenue, thecompany’s international sales increased 9.2% year-on-year due to the relatively strong demand forthe Bidz products overseas.
