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Yandex to acquire online clothing store KupiVIP

The deal should be closed in Q2 of 2021 after the approval of the Federal Antimonopoly Service, the company said

MOSCOW, May 31. /TASS/. Yandex will buy and then integrate online clothing store KupiVIP into Yandex.Market, the company said in a statement.

According to the statement, 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.

It was noted that at first Market and KupiVIP will work and develop in parallel, but gradually the services will be integrated. Soon after the deal, products from KupiVIP will start appearing on Yandex's marketplace. In addition, the store will connect to Yandex Plus, and orders can be picked up at Yandex checkpoints.

The deal should be closed in Q2 of 2021 after the approval of the Federal Antimonopoly Service, the company said.

KupiVIP online store was founded in 2008. It offers clothing, footwear and accessories from over 1,000 fashion brands. KupiVIP cooperates with more than 3,000 Russian and foreign suppliers, and also operates a logistics complex in the Moscow region, which can ship more than 9 mln orders per year. Apart from Russia, the store also operates in Belarus and Kazakhstan.