Magnit closed a deal to buy the KazanExpress marketplace, the retailer said in a statement. The company will launch its own marketplace “Magnit Market” based on KazanExpress.
Under the terms of the agreement, Magnit received a 100% stake in KazanExpress LLC, intellectual property rights and the entire infrastructure of KazanExpress (this includes a technological platform, order pick-up points, warehouse space and a fleet of vehicles).
The agreement was approved by the FAS. The purchase amount does not appear in the Magnit message.
Thanks to KazanExpress, Magnit hopes to quickly enter a new market segment for the company and occupy a “significant share” there (the company does not specify which one).
KazanExpress will operate within Magnit as a separate business unit under the leadership of the current management.
Over the coming months, the KazanExpress application, website, collection points, warehouses and own transport will change their external design and operate under the Magnit Market brand. The KazanExpress application is integrated into the OMNI Magnit application.
- Magnit’s plans to buy KazanExpress and launch its own market under the Magnit Market brand on its basis became known in the second decade of October. Experts estimated the amount of the transaction at 10 billion rubles.
- The sellers of KazanExpress were the structure of AliExpress Russia – Aggregator Online, the owner of the Kazan FIX holding Sergey Eremeev and the founders of the marketplace Linar Khusnullin and Kevin Handa.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
