Company type | Public |
---|---|
Predecessor | XPO Logistics |
Founded | August 2, 2021 |
Headquarters | Greenwich, Connecticut, U.S. |
Number of locations | 974 (2023) |
Key people |
|
Revenue | US$9.78 billion (2023) |
US$318 million (2023) | |
US$233 million (2023) | |
Total assets | US$9.51 billion (2023) |
Total equity | US$2.95 billion (2023) |
Number of employees | 131,000 (2023) |
Website |
gxo |
Footnotes / references [1] [2] |
GXO Logistics, Inc. ( trade name GXO) is an American global contract logistics [3] company that manages outsourced supply chains and warehousing, and reverse logistics for blue-chip customers in over thirty countries. [4] [5] [6] GXO's corporate headquarters are located in Greenwich, Connecticut, U.S. [7] Its customers include Apple, Nike Inc., Boeing Co., Verizon, Whirlpool, and Nestle SA. [8] [9]
In December 2020, XPO, Inc. announced that it would spin off its global contract logistics segment into a separate company. [10] In March 2021, XPO announced the new name of the firm as GXO Logistics Inc. [11] The spin-off was completed on August 2, 2021, [3] with American businessman Brad Jacobs named as Non-Executive Chairman, Malcolm Wilson as CEO; formerly the CEO of XPO, Inc. European division, [3] and Baris Oran as CFO. [12]
In May 2022, GXO announced the acquisition of the U.K.-based retail logistics company, Clipper Logistics. [13] [14] Clipper distributes goods for Marks & Spencer and Morrisons, and has expertise in life sciences, reverse logistics, and repairs. [15] [16] Reverse logistics are the movement of products from consumers back to retailers. [17] The acquisition was completed in October after final regulatory approval. [16] It expanded GXO’s presence into Germany and Poland, and added over 50 sites, 10 million square feet of warehouse space, and approximately 10,000 employees to the company. [16]
That same month, as part of its European expansion, GXO also opened 30 shared warehouse facilities in the U.K. [18] In May 2022, the company was named to the Fortune 500. [19] At the end of the fourth quarter, it reported that e-commerce revenue had risen 31% and reverse logistics revenue 19%. [20] By October 2022, GXO had opened 90 sites, signed 450 new customer contracts, and hired 15,000 people. [19]
In April 2023, GXO announced a partnership with Sainsbury, the U.K. supermarket chain, to manage fresh and frozen shipments at several warehouse sites. [21] In June 2023, the company signed a partnership agreement with Zalando for a new, automated fulfillment center in Montereau-sur-le-Jard, located near Paris, France. [22] Also in June, GXO also announced a multiyear expansion program in Germany. [23]
The company had around 1000 warehouses in June 2023. [24] In July 2023, GXO announced that Adrian Stoch was appointed to the new executive position of chief automation officer. [25] [26]
In October 2023, GXO acquired U.S.-based PFSweb, Inc., a tech-enabled eCommerce order fulfillment platform to expand its presence in North America. [27] [28] [29]
By the end of 2022, the company had approximately 7,600 pieces of technology operational in customer sites. [30] This included collaborative robots, vision scanners, automated guided vehicles (AGVs) and goods-to-person robots. [30] In May 2023, GXO Direct announced that Blue Yonder was a new warehouse software partner. [31]
Following the split in August 2021 [update] from XPO, Inc., GXO had approximately 94,000 employees and operated 869 warehouses with more than 208 million sq ft (19.3 million m2) of facility space across 27 countries. [3] GXO's contract logistics customers operate in technology [32] and infrastructure. [33] In 2023, GXO was the world’s largest contract logistics provider. [34]
GXO Direct is the shared services division of GXO Logistics. It was introduced in 2018 to provide an option for businesses who don’t require an entire warehouse for their products. [31] GXO Direct allows multiple customers to utilize one warehouse. [35] It is operational in the U.S. and Canada. [36] In March 2023, GXO Direct was expanded in the U.K. [37]
Company type | Public |
---|---|
Predecessor | XPO Logistics |
Founded | August 2, 2021 |
Headquarters | Greenwich, Connecticut, U.S. |
Number of locations | 974 (2023) |
Key people |
|
Revenue | US$9.78 billion (2023) |
US$318 million (2023) | |
US$233 million (2023) | |
Total assets | US$9.51 billion (2023) |
Total equity | US$2.95 billion (2023) |
Number of employees | 131,000 (2023) |
Website |
gxo |
Footnotes / references [1] [2] |
GXO Logistics, Inc. ( trade name GXO) is an American global contract logistics [3] company that manages outsourced supply chains and warehousing, and reverse logistics for blue-chip customers in over thirty countries. [4] [5] [6] GXO's corporate headquarters are located in Greenwich, Connecticut, U.S. [7] Its customers include Apple, Nike Inc., Boeing Co., Verizon, Whirlpool, and Nestle SA. [8] [9]
In December 2020, XPO, Inc. announced that it would spin off its global contract logistics segment into a separate company. [10] In March 2021, XPO announced the new name of the firm as GXO Logistics Inc. [11] The spin-off was completed on August 2, 2021, [3] with American businessman Brad Jacobs named as Non-Executive Chairman, Malcolm Wilson as CEO; formerly the CEO of XPO, Inc. European division, [3] and Baris Oran as CFO. [12]
In May 2022, GXO announced the acquisition of the U.K.-based retail logistics company, Clipper Logistics. [13] [14] Clipper distributes goods for Marks & Spencer and Morrisons, and has expertise in life sciences, reverse logistics, and repairs. [15] [16] Reverse logistics are the movement of products from consumers back to retailers. [17] The acquisition was completed in October after final regulatory approval. [16] It expanded GXO’s presence into Germany and Poland, and added over 50 sites, 10 million square feet of warehouse space, and approximately 10,000 employees to the company. [16]
That same month, as part of its European expansion, GXO also opened 30 shared warehouse facilities in the U.K. [18] In May 2022, the company was named to the Fortune 500. [19] At the end of the fourth quarter, it reported that e-commerce revenue had risen 31% and reverse logistics revenue 19%. [20] By October 2022, GXO had opened 90 sites, signed 450 new customer contracts, and hired 15,000 people. [19]
In April 2023, GXO announced a partnership with Sainsbury, the U.K. supermarket chain, to manage fresh and frozen shipments at several warehouse sites. [21] In June 2023, the company signed a partnership agreement with Zalando for a new, automated fulfillment center in Montereau-sur-le-Jard, located near Paris, France. [22] Also in June, GXO also announced a multiyear expansion program in Germany. [23]
The company had around 1000 warehouses in June 2023. [24] In July 2023, GXO announced that Adrian Stoch was appointed to the new executive position of chief automation officer. [25] [26]
In October 2023, GXO acquired U.S.-based PFSweb, Inc., a tech-enabled eCommerce order fulfillment platform to expand its presence in North America. [27] [28] [29]
By the end of 2022, the company had approximately 7,600 pieces of technology operational in customer sites. [30] This included collaborative robots, vision scanners, automated guided vehicles (AGVs) and goods-to-person robots. [30] In May 2023, GXO Direct announced that Blue Yonder was a new warehouse software partner. [31]
Following the split in August 2021 [update] from XPO, Inc., GXO had approximately 94,000 employees and operated 869 warehouses with more than 208 million sq ft (19.3 million m2) of facility space across 27 countries. [3] GXO's contract logistics customers operate in technology [32] and infrastructure. [33] In 2023, GXO was the world’s largest contract logistics provider. [34]
GXO Direct is the shared services division of GXO Logistics. It was introduced in 2018 to provide an option for businesses who don’t require an entire warehouse for their products. [31] GXO Direct allows multiple customers to utilize one warehouse. [35] It is operational in the U.S. and Canada. [36] In March 2023, GXO Direct was expanded in the U.K. [37]