Page 16 - bne_Tech_09_2019

Fintech & E-commerce
September 2019 www.intellinews.com I Page 16
Chinese online retailer Joom buys into Russia's iGooods delivery service
Russian grocery delivery service iGooods has sold 10% in an additional share issue for RUB325mn ($5mn) to Chinese online goods retailer Joom, Vedomosti daily reported on August 26 citing representatives of both companies. Joom will become the second-largest shareholder after
the founder of the company Grigory Kunis.
iGooods is the largest Russian delivery service for groceries from food retailers, servicing such chains as Lenta, Karusel, Magnit, Globus, and Metro Cash & Carry in large Russian cities. It is valued at RUB2.9bn for the deal.
Polish cosmetics companies make it to the Chinese e-market
IntelliNews Pro
Polish cosmetics companies such as Ziaja, Bielenda, Bell, Paese and Verona have successfully entered the Chinese market through the international e-commerce platforms AliExpress and Tmall, daily Rzeczpospolita reported on August 13.
According to the head of the foreign trade office of the Polish Agency of Trade and Investment in Shanghai, Andrzej Juchniewicz, it is difficult to enter the closed Chinese market. “The alternative
As reported by bne IntelliNews, the competition in the food and grocery delivery market is gearing up, with deals involving major players such
as Sberbank, Yandex, and Mail.ru, and smaller start-ups as Instamart and Dostavitsa delivery services.
Most recently marketplace Beru of Yandex. Market, an e-commerce joint venture between Yandex and Sberbank, said it would team up with Russia's leading retailer X5 Retail Group to develop drop-off/pick-up points in shops
in the Pyaterochka format.
is to enter the online market. This makes it possible to import products legally by paying customs duties but not registering the company or products in China. There is also no need for animal testing, which is important for European brands,” Juchniewicz added.
Thanks to these online platforms, the Polish cosmetics companies have managed to record a huge growth in sales in a very short period of