ShipMonk Announces International Expansion in Mexico and Launches 3PL Fulfillment Services to Help Retailers Dramatically Reduce Cost of Importing Goods to the United States
E-commerce fulfillment and inventory management provider acquires El Mar Mexico
FORT LAUDERDALE, Florida, October 21, 2021– (COMMERCIAL THREAD) –ShipMonk, a leading provider of e-commerce technology and fulfillment solutions, today announced its international expansion and the acquisition of El Mar Mexico (321 Completion of Mexico). The Tecate, Mexico-based distribution center is ShipMonk’s first warehouse located outside of the United States. Located in the El Bajio Industrial Park, less than 20 miles east of the Otay Mesa border crossing in San Diego, California, the warehouse will enable the business to grow. e-commerce customer base to leverage US Customs and Border Patrol (CBP) Section 321 to legally circumvent taxes on the majority of US shipments, eliminating import tariffs and duties.
The Mexican distribution center will be wholly owned, managed and operated by ShipMonk, in full compliance with Section 321. The legislation allows international shipments that meet the “de minimis threshold” for items valued at less than $ 800, to enter the United States. free. The law is particularly beneficial for online merchants in sectors subject to tariff restrictions, including clothing, home fashion or luggage, sectors which are widely represented in ShipMonk’s customer base. The goods are legally imported into a special licensed free trade zone in Mexico and then shipped directly to the U.S. consumer within the full coverage area of ShipMonk’s shipping zone, without paying duties or tariff charges.
“Section 321 is powerful legislation, designed to benefit e-commerce providers who manufacture overseas and sell in the United States, as it streamlines both costs and the time it takes for goods to reach consumers.” Said John Grubor, COO of ShipMonk. “We are providing a gateway for retailers to take advantage of this: reduce international shipping costs and eliminate tariffs and duties while still maintaining the ability to ship direct to consumers. This has a positive impact on the results of our clients. “
Over the past 12 months, ShipMonk has raised $ 355 million in funding to accelerate its strategic growth and international expansion. ShipMonk Mexico is the first new location in the company’s plan for expanding carrier geographies and will be critical in efforts to improve its technology platform to serve existing and new customers internationally. International expansion is also increasing ShipMonk’s workforce during this time when supply chains and warehouses, in particular, are plagued by shortages of available labor.
“Every online retailer has been affected in one way or another by supply chain bottlenecks and seeks to operate more efficiently. We base our business decisions on how we can improve our platform so that it forms the basis for continued customer success and growth. “said Jan Bednar, Founder and CEO of ShipMonk.” Growing our global footprint not only expands the scale of our operations, but diversifies the customer base we can attract with ShipMonk’s services – the more we can offer of resources and locations allows our customers to seamlessly adapt to new geographies. ”
ShipMonk’s platform allows merchants to delegate the hassle of managing order fulfillment, tracking inventory in warehouses, and dealing with fluctuating shipping circumstances such as the current logistics lag. As the peak holiday season approaches, ShipMonk’s technology can give businesses the peace of mind that orders will arrive on time, accurately and reliably.
Founded in 2014, ShipMonk is headquartered in Fort Lauderdale, Florida, and employs more than 1,200 employees in its U.S. operations, which include more than one million square feet of warehouse space in Florida, California, Pennsylvania and internationally in Mexico. The company serves a growing base of B2C businesses, including: BrüMate, Liquid IV, FEAT, CatLadyBox and Glamnetic. ShipMonk was recognized as a fastest growing startup on the Inc. 5000 list, as a Deloitte Technology Fast 500 company, and featured in Entrepreneur and Forbes.
ShipMonk plans to continue its international expansion and open a European warehouse in 2022.
Since its inception in 2014, ShipMonk has operated with a single guiding principle: to help small to medium-sized e-commerce businesses evolve by delivering technology-driven fulfillment solutions that allow business builders to spend more time on business. things that matter most in their life. companies. Simply put, ShipMonk helps ecommerce businesses stress less and grow more. Based in Fort Lauderdale, Florida, ShipMonk has over 1,200 employees at its facilities in Fort Lauderdale, Florida, Pittston, Pennsylvania, Los Angeles, California, Tecate, Mexico and Prague, Czech Republic . More information is available at www.shipmonk.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211021005059/en/
Vice President of Marketing