Yandex announced its intention to buy an online clothing store KupiVIP. The service is one of the largest companies on the Russian Internet. Representatives of the owner of the marketplace said that the transaction also includes the purchase of the online store Mamsy.
“Yandex is buying the KupiVIP online store. 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, “Yandex said in a statement (quoted by TASS).
The amount of the deal was not disclosed. It is expected to close in the second quarter of 2021 after FAS approval. At first, Yandex.Market and KupiVIP will develop in parallel, but will gradually be integrated. The store will be connected to Yandex Plus, orders can be picked up at checkpoints and points of issue of Yandex. Market “.
The KupiVIP online store was founded in 2008. He specializes in the sale of clothing and footwear. The site cooperates with more than 3 thousand suppliers. According to CrunchBase, the service has raised $ 119.6 million in investment since its launch. Investors include Intel Capital, EBRD, Mangrove Capital Partners and others. KupiVIP is ranked 19th in the Forbes ranking of the most expensive companies on the Russian Internet ($ 318 million).
Yandex is buying Private Trade, which operates KupiVIP, representatives of Private Trade and the marketplace Vedomosti reported. 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.
Private Trade is owned by Cyprus-based Blacksquare Investments. A company spokesman said that the shares of the Cypriot company are distributed among 19 large funds and individuals, including the founder of KupiVIP Oscar Hartmann.
About the cooperation of KupiVip with the Chinese Cainiao – in the material of “Kommersant” “Cainiao has developed with KupiVip.”