Russia’s Yandex cancels deal to buy online fashion retailer KupiVIP

Pic: Yandex.ru

Russian tech huge Yandex past week announced pulling out of a offer to get on the web vogue retailer KupiVIP, but said it is contemplating choice shops in the field of vogue. In Might, it experienced agreed to get the on the web retailer on undisclosed conditions to greatly enhance its Yandex.Market place, a no cost system for exhibiting items by retail and on the web shops.

The offer was predicted to be done in the third quarter of this calendar year.

“Yandex.Market place will not exercise its possibility to get the KupiVIP group,” a international newswire quoted Yandex as indicating in a statement.

Yandex options to invest shut to $four hundred-500 million on its e-commerce generate this calendar year.

Fibre2Fashion News Desk (DS)

Russian tech huge Yandex past week announced pulling out of a offer to get on the web vogue retailer KupiVIP, but said it is contemplating choice shops in the field of vogue. In Might, it experienced agreed to get the on the web retailer on undisclosed conditions to greatly enhance its Yandex.Market place, a no cost system for exhibiting items by retail and on the web shops.