Japan-based Sumitomo now owns a 40% equity stake in RCL. Proceeds from the transaction will go towards accelerating the growth of the company and entering the C2C express delivery market under the new brand “RCL Express”.
Established in 2016, RCL’s operations in Indonesia span 53 hubs, serving 172 cities and covering 2,400 districts across the country’s archipelago.
Driven by the rapid growth of eCommerce, the courier delivery market in Indonesia is expected to grow by more than 30% per annum, with annual volumes growing to 1.8 billion in 2021 from 600 million today.
RCL is one of the fastest growing companies in the industry. Both Sumitomo and Lippo intend to build RCL into the industry leader, and as a platform to pursue further business opportunities in a wide range of sectors.
The Lippo Group and Sumitomo established their first partnership in Indonesia in 1990 through EJIP (PT East Jakarta Industrial Park.