AliExpress Russia has acquired a controlling stake of 50.1 percent in KazanExpress, one of the fastest-growing marketplaces in Europe, for an undisclosed sum. AliExpress Russia previously purchased a 30 percent stake in the platform, which has delivery points in 91 cities of 18 Russian regions, in March.

AliExpress said it aims to further expand the company, strengthen logistics, including opening a one million-square-metre fulfilment centre in Kazan, which would be one of the largest in Europe. AliExpress Russia expects the acquisition to push it to the top of Russia’s e-tailing heap in terms of order numbers, by 2024.

KazanExpress has grown 800 percent over the past year, according to its own data. In September, the platform processed 50,000 orders per day and by December, expects this figure to double.

AliExpress Russia was created in October 2019 as a joint venture of the Chinese Alibaba Group, Russian telecom company MegaFon, Internet giant Mail.ru Group and the Russian Direct Investment Fund (RDIF).

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