Yandex will unite the business of developing product brands into a single direction

Russian company Yandex (MOEX: SBER) will unite the business of promoting product brands into a single direction. One team will be responsible for the development of new and existing brands, including Market and Lavka.

“Yandex will unite the business of promoting its own food brands in Lavka and Market into a single direction. Now their development will be handled by a united service team,” the company’s press service said.

The release states that under the “My Market” brand they will produce goods for every day at affordable prices. The “By the way on the market” brand will continue to produce food, snacks and everyday goods. The “Iz Lavki” brand will consist of basic products, ready-made food and products from craft producers.

This summer, Yandex began the process of corporate restructuring, within which the company will transfer its Russian business to management. Four “subsidiaries” of the company will go to the parent company Yandex NV in the Netherlands. Yandex will submit a restructuring plan for consideration by shareholders by the end of 2023.

Anastasia Larina