German-Based Logistics Powerhouse FIEGE Logistics Acquires World Fashion Logistics, Establishing Foothold In Southeast Asia's Fast-Expanding Logistics Landscape

The acquisition will allow World Fashion Logistics,now listed as Fiege Far East (Singapore) to tap into the established robust infrastructure and expertise of FIEGE Logistics in its operations and services

SINGAPORE,Oct. 27,2022 -- FIEGE Logistics,one of the top-growing German-based logistics powerhouses,has announced its acquisition of home-grown logistics provider World Fashion Logistics. Following the acquisition,World Fashion Logistics will now be listed as Fiege Far East (Singapore) – an integrated logistics service provider to top global retail B2B and B2C clients in the fashion lifestyle,consumer product, and industry logistics with in-depth expertise in connecting brands and consumers across channels.

The acquisition arrives with FIEGE Logistics exploring avenues of diversification to bolster its presence and positioning in the Southeast Asia retail-logistics landscape.

CFO of FIEGE Logistics,Alfred Messink,said: "Asia is fast gaining traction as the most lucrative market for major brands,especially in luxury,athleisure,and street fashion – markets that Fiege Far East (Singapore) operates in. Despite widespread perceptions that the pandemic has decimated the retail sector,consumer demands have increased in particular markets such as luxury fashion,making it clear that efficient and up-to-date solutions are indispensable in the logistics market. Therefore,it is strategic for us to expand our operations in the region to present solutions that add value to the ecosystem."

The company believes that the acquisition will further contribute to the increase in efficiency level,improved business operations,and risk management for Fiege Far East (Singapore). With a comprehensive range of integrated end-to-end solutions,Fiege Far East (Singapore) is well positioned in the business logistics chain,given that it supplies innovative and streamlined solutions that assist business owners to receive their merchandise,stock keeping,and quality check,as well as distributing them to their customers (B2C) or to their storefront (B2B).

For e-commerce clients,the company facilitates the complete e-commerce process by storing goods,packing,and tapping into their robust carrier network. Meanwhile,for business stakeholders,Fiege Far East (Singapore) supplies storage solutions for major manufacturing companies,as well as fashion and lifestyle companies. In storage,Fiege Far East (Singapore) also provides added services such as quality control,assembly of parts,labelling,and timely delivery to the desired locations – connecting the optimal IT solutions to offer a digital experience and transparency across the entirety of the supply chain.

"Our holistic approach and customer-centric solutions empower our clients to be more focused on their core competencies such as manufacturing,selling,and running stores by taking over their logistics operations. The current e-commerce wave has retailers fixated on managing and scaling their businesses. Fiege Far East (Singapore) operations will harmoniously complement retailers' business efforts while relieving retailers from logistical concerns in the equation." shared Gianmaria Beretti,Managing Director of FIEGE Logistics.

As an e-commerce leader,the acquisition enables Fiege Far East (Singapore) to diversify its operations and expand its retail-logistics footprint in Southeast Asia,in addition to its existing strong clientele base of world-renowned luxury fashion labels and lifestyle retail chains. With the acquisition,a more standardised e-commerce solution will soon be introduced,enabling Lean Management and reengineering operational processes.

For more information,please visit www.fiege.com

About FIEGE Logistics

The FIEGE Group,headquartered in Greven in Westphalia (Germany),is one of Europe's most innovative logistics companies. A workforce of over 23,000 employed at 133 locations based in 16 countries back FIEGE and its international operations in core markets across all of Europe,and all the way to Asia. FIEGE is a fifth-generation family business that is regarded as a pioneer of contract logistics. Its modular solutions in Logistics,Digital Services,Real Estate and Ventures form the essence of its business activities. In 2021,the FIEGE Group generated 1.8 billion euros in turnover while overseeing more than four million square metres of logistics space. For more information,please visit www.fiege.com.

About Fiege Far East (Singapore)

FIEGE Far East (Singapore) was set up in Asia in 2005 (Formerly known as World Fashion Logistics),by Gianmaria Beretti (Managing Director of FIEGE Logistics) who brought with him from Italy a specialized management team and his thirty years' experience in the logistics industry for the fashion market to build a successful enterprise. The business underwent rapid growth and expanded its range of service from quality control and restoration to optimizing costs solutions,complete fulfillment service (Inbound/Storage/Outbound) for omnichannel retailers in B2B & B2C,reverse logistics and distribution.

Today,FIEGE Far East (Singapore) incorporates the expertise built through extensive years spent working for the fashion industry,consumer product and industry logistics with a global geography coverage.

FIEGE Far East (Singapore) is the ideal logistics partner to any fashion,consumer product and industry logistics customers. We stand out for our care towards each customer's needs,our constant search for innovative solutions,and our use of tools and technology to provide real-time information on our operations