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Company profile: Thrift Logistics (Hong Kong)

Russian-born Australian Alexander Meerovitsch opened his third company, Thrift Logistics, in April last year, in the midst of the global financial crisis, by taking advantage of freed-up cargo space on ships, trucks and aircraft. The company has since almost tripled its staff, from three employees at start-up, to eight, and had a turnover of more than USD1 million in its first eight months.

The business was born out of necessity as much as entrepreneurship. Meerovitsch already ran two successful businesses – a commercial fishery in Russia and a watch company in Hong Kong – but he couldn’t find a freight forwarder that could satisfy the exacting logistics needs of both. He formed Thrift Logistics so that his companies, and others who require precision transportation with genuine tailored service, could benefit.