FedEx Kinko’s has finally unveiled details of an aggressive expansion plan to open 300 new office and print centres in the US throughout fiscal 2008. The company also will redesign 110 existing centres and introduce 20 new locations internationally. These changes are part of the company’s overall plan to provide small businesses and travelling professionals with even greater access to the company’s office and print services and the FedEx transportation network.
Dallas-based FedEx Kinko’s has more than 1,700 locations in operation today, and this latest push for growth comes on the heels of the successful execution of its expansion plan in fiscal 2007.
Last August, the company introduced a smaller store format and announced plans to open 200 centres nationwide with the new design. These centres have an average footprint of 1,800ft2 and carry more than 700 different office products. In addition, they offer the same services as a traditional centre and have generated positive customer feedback since the launch. Based on the strong results, the 300 domestic locations scheduled to open in fiscal 2008 will feature the small-format design as well.
"With our strategic expansion efforts, we are opening the equivalent of one new FedEx Kinko’s location every business day over the 2008 fiscal year," says Ken May, president and CEO of FedEx Kinko’s. "And with more centres around the world, we’re making it easier than ever for customers to get the shipping, office and printing services they need in one stop."
FedEx Kinko’s also plans to embark on its most aggressive international expansion effort to date by opening 20 new centres outside the US during fiscal 2008. These new centres will be focused in the Asia-Pacific region with 12 in China, four in Japan, two in Korea, and one in Australia. In addition, one new centre will be opened in Canada. Currently, the company has 159 locations outside the US.
"The tremendous economic growth of the Asia-Pacific region is fuelling an increase in demand for our services," says Joe Luongo, senior VPof international. "As a result, we are almost doubling our current presence in China and enhancing our strong presence in Japan."
In addition to the new locations, FedEx Kinko’s will begin the process of converting 110 existing centres from a traditional format to a large-footprint retail model first introduced in October 2005. These US-based centres, which range from 6,000 to 10,000ft2, will be redesigned to stock more than 2,500 different office supplies. Also, the locations will be reconfigured to have enhanced areas for shipping, computer rental and internet services.
"At FedEx Kinko’s, we’re dedicated to growth and innovation," says Tom Leverton, EVPand chief development officer. "Customer needs are evolving at a rapid pace, and FedEx Kinko’s is driven to build our network in response."