Magnit buys KazanExpress to launch its marketplace – Kommersant
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Retailer Magnit has agreed to purchase the KazanExpress marketplace. Magnit Market will be launched on its basis. Order pickup points will be set up in offline stores.
The retailer will acquire 100% of KazanExpress LLC from AliExpress Russia, entrepreneur Sergei Eremeev and KazanExpress founders Linar Khusnullin and Kevin Hand. It is planned that the transaction will be financed using its own funds. The purchase must be approved by the Federal Antimonopoly Service. “It is expected that the transaction will have a strong synergistic effect on Magnit’s core business, as well as on the business of KazanExpress, and will also allow the retailer to make a breakthrough in the implementation of its omnichannel strategy,” the statement says. message companies.
The transaction amount is not disclosed. General Director of Infoline Analytics Mikhail Burmistrov estimated it at 10 billion rubles. The expert’s assessment is given by the publication Shopper’s (owned by Magnit). The deal includes the entire marketplace infrastructure: technology platform, order pick-up points, warehouses, vehicle fleet, as well as intellectual property. “Magnit” will also receive “an established pool of 12 thousand Russian marketplace sellers.”
After the acquisition, KazanExpress will change its name to Magnit Market. An examination of the possibility of scaling the marketplace will be carried out. KazanExpress, according to INFOLine for 2022, was in fifth place among marketplaces in terms of the number of orders. The audience exceeds 5 million people per month. The network of order pick-up points includes 500 points in 120 cities. Magnit wants to “manifold increase” the geography and number of order pick-up points through Magnit stores of all formats. According to the company, this “will allow customers to receive orders in a convenient location near their home, and the retailer will attract additional traffic.”
Why sellers leave AliExpress Russia for other marketplaces – in the material “Throughout the entire retail space”.
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