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

Pic: Yandex.ru


Russian tech giant Yandex last week announced pulling out of a deal to buy online fashion retailer KupiVIP, but said it is considering alternative outlets in the field of fashion. In May, it had agreed to buy the online retailer on undisclosed terms to enhance its Yandex.Market, a free platform for displaying products by retail and online stores.

The deal was expected to be completed in the third quarter of this year.

“Yandex.Market will not exercise its option to…


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