Russia-based Yandex.Market partners with China-based

Friday 31 May 2019 13:27 CET | News

Yandex.Market online marketplace, a joint venture between Yandex and Sberbank, has closed a strategic partnership with ecommerce company

As of June 2019, Yandex.Market will be selling goods in Russia through its ecommerce platform, Interfax reported. The partnership is expected to strengthen Yandex.Markets cross-border ecommerce exposure.

China accounts for about 90% of total cross-border shipments to Russia, and about half of Russias cross-border ecommerce turnover. In 2018, online imports increased by 29% year-on-year to USD 5.4 billion.

Earlier in 2019, China-based online marketplace has announced that it has closed its Australian branch after 15 months in the market.

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Keywords: Yandex.Market, online marketplace, Yandex, Sberbank, partnership, ecommerce,
Countries: World

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