Yandex announced its intention to buy online clothing store KupiVIP. According to the company, the deal will allow Yandex.Market to accelerate its entry into the clothing, footwear and accessories market thanks to its well-established infrastructure, supplier base and long-term experience of the KupiVIP team.
It is noted that at first Yandex.Market and KupiVIP will work and develop in parallel, but gradually the services will be integrated. Soon after the deal, products from KupiVIP will start appearing on the Yandex marketplace. In addition, the store will connect to Yandex Plus, and orders can be picked up at check-in terminals and Market pick-up points.
The deal should be closed in the second quarter of 2021 after FAS approval.
The cost of the deal was not disclosed.
Vedomosti reported that Yandex is buying Private Trade, which operates KupiVIP. The deal will also include the Mamsy online store, five KupiVIP offline stores in Moscow and a 20,000 sq. M. Distribution center. m in the suburbs.
Source: TASS
