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AliExpress Russia Joint Venture Deal Completed

October 10, 2019 8:56 am

Alibaba’s AliExpress Russia has announced the deal to join forces with Mail.ru Group, MegaFon and the Russian Direct Investment Fund is signed off which will bring together e-commerce, social media and gaming platforms for the Russian consumers and give Russian SMEs greater access to both local and international markets.

Russia’s Federal Antimonopoly Service cleared the JV to move forward last June.

In addition to blending social media and e-commerce, the joint venture will work to support Russia’s consumption upgrade by delivering a greater selection of high-quality products to the market. For Russian small and medium-sized enterprises, it’s a chance to tap a newly connected ecosystem in the domestic market while accessing over 600 million consumers using Alibaba’s platforms, including in China, Southeast Asia, Turkey, Europe and India.

Source: Tamebay