AliExpress Russia acquires 30 percent stake in KazanExpress

Tuesday 30 March 2021 12:45 CET | News

AliExpress Russia has invested in KazanExpress, a major regional ecommerce company from Russia, by acquiring a 30% stake.

According to Ecommerce News Europe, it’s unclear how much money was involved with the transaction. However, KazanExpress’ co-owner Linar Khusnullin spoke of ‘several billions of rubles’ (dozens of millions of euros). 

Furthermore, the company is currently investing in logistics to expand its 24-hour delivery. Additionally, it plans to reach three quarters of online consumers in Russia by covering 127 cities in the European part of the country. The company’s website traffic doubled from September 2020 and the number of parcels has increased eight-fold in a year’s time. Currently, KazanExpress ships about 1 million parcels per month.  

KazanExpress was founded in 2017 and is based in the Russian republic Tatarstan, of which the capital is Kazan. The ecommerce platform combines marketplace and retail models and partners with about 5,000 online merchants from Russia. 

AliExpress Russia is a joint venture formed by Alibaba Group, Russian internet giant, Megafon, and wealth fund RDIF.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: AliExpress, acquisition, ecommerce
Categories: Payments & Commerce | Ecommerce
Countries: Russian Federation
This article is part of category

Payments & Commerce