FedEx was founded by Fred Smith after his tour in Vietnam, and he continues to run the company today, as the only CEO that FedEx has ever known. The company began by offering overnight courier services, an industry that to that point had not existed. Today, that unit is known as FedEx Express and it is still the largest in the company. There are competitors, however, mostly notably UPS, DHL and TNT. In most Western markets, the industry is relatively concentrated, with these companies and a few local competitors (such as Purolator in Canada) dominating the business. In the developing world, there may be more competitors and the industry less concentrated. FedEx remains a strong competitor in the overnight delivery industry. Today, industry growth is concentrated on emerging markets. As such, most of the notable moves from FedEx Express have related to these markets. Recent moves in China for example...
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