The largest Russian retailer, X5 Group (which manages the Pyaterochka, Perekrestok, Karusel and Chizhik chains), has separated the online business into a separate structure, the company said. A separate structure will include the Perekrestok vprok online hypermarket, express delivery services and an aggregator for express delivery of groceries and food from Okolo restaurants. The structural changes were approved by the company’s supervisory board.
“The company is considering several promising options for further development, including both attracting investors in the open capital market or investing through strategic partnerships, and independent development within X5,” the statement said.
The fact that the company can separate the digital business into a separate structure and in the future plans to bring it to the stock exchange, in November last year, said the head of the investor relations department at X5 Andrei Vasin. The announcement came against the backdrop of Ozon’s successful IPO. According to him, the valuation of the retailer’s online business, based on the parameters of Ozon’s IPO and current plans for next year, would be $ 3 billion.
At the end of the first quarter of 2021, the total turnover of X5 online businesses amounted to 10.5 billion rubles, which is 363.5% more in annual terms. The main share was brought by the revenues of express delivery services – 5.5 billion rubles, the revenues of the online hypermarket “Perekrestok vprok” amounted to 4.5 billion rubles.
At the end of last year, X5 became the leader in the online grocery sales market with a 15% share, Vkusville ranks second (13.8%), Sbermarket delivery service ranks third (11.9%), and – “Yandex” (10.4%), according to the assessment of “Infoline-analytics”.
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