AliExpress Russia to be awarded 30% in KazanExpress

10 March 2021

AliExpress Russia as part of an investment round will be awarded 30% in a company developing the marketplace KazanExpress. The latter now works with the regional suppliers and focuses on consumers from the European Russia, but plans to expand its coverage. In the opinion of experts, AliExpress Russia needs the transaction to broaden its regional presence without large-scale investment in the infrastructure.

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Set up in 1999, Alibaba has emerged as the largest Chinese e-commerce company. In 2014, Alibaba Group raised $25bn in its IPO at the New York Stock Exchange (NYSE).