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Tag: Allegro

  • Polish online retailer Allegro to take over Mall Group from Czechia

    Polish online retailer Allegro to take over Mall Group from Czechia

    Allegro, Poland’s largest online trading platform, announced that it had reached an agreement to take over online retailer Mall Group from Czechia.

    The value of the transaction is around 881 million euros as Reuters reports.

    Allegro would take over the Mall Group’s e-commerce assets and the courier company WeDo from Rockaway Capital, PPF Group and EC Investments.

    The final price of the transaction could be increased by up to 50 million euros, depending on the Mall Group meeting certain short-term objectives.

    https://moneybuzz.ro/pentru-romani-schimbarile-climatice-au-impact-asupra-vietii-lor-zilnice/

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    Merging Allegro and Mall Group will give rise to a company that will operate in Czechia, Republic, Slovakia, Hungary, Slovenia, Croatia and Poland.

    Buyers will have acces to an improved offer, prices and proximity, and over 135.000 merchants will be able to list their products on a single platform.

    Allegro has become the largest company on the Warsaw Stock Exchange, but will have a bigger competition after Amazon launched its Poland local website this year.

    Amazon’s entry in Poland is likely to change and stimulate the growth of the local e-commerce market, which is expected to reach USD 25 billion in 2024.

  • Amazon launched a local website in Poland

    Amazon launched a local website in Poland

    Amazon, the world’s largest online retailer, launched a website on Tuesday for customers in Poland, Reuters reports.

    Polish online commerce market has been stimulated by online shopping during the coronavirus pandemic, and Allegro, the largest local online commerce platform, has enjoyed a great debut on the Warsaw Stock Exchange.

    Following Amazon’s announcement, Allegro shares rose 2.4%.

    We are delighted with the launch of Amazon.pl. We will be able to offer Polish customers a selection of over 100 million products, including tens of thousands of products from local businesses, said Alex Ootes, Amazon’s vice president for expansion in Europe.

    Amazon has been active in Poland since 2014, with nine logistics centers, but customers were diverted to the German-language site.

    This move is likely to change and stimulate the growth of the Polish online commerce market, which is expected to reach $ 25.25 billion in 2024.

  • Allegro leases 2.100 sqm in the Lubicz Business Centre Krakow

    Allegro leases 2.100 sqm in the Lubicz Business Centre Krakow

    Allegro has leased close to 2.100 sqm in the Lubicz Business Centre in Krakow, a property owned by Globalworth.

    The new offices, where a team comprising mostly engineers is to work to further the development of the platform’s technology, will be ready at the beginning of next year.  

    Allegro is an online shopping platform that was founded in 1999 in Poland. Today over 20 million shoppers a month visit the site while over 117,000 companies base their businesses on the platform.

    Allegro has its headquarters in Poznań and also has offices in Warsaw, Toruń, Wrocław and Krakow. Currently, the company employs over 2,400 people.

  • Polish e-commerce giant Allegro to be listed on Warsaw Stock Exchange

    Polish e-commerce giant Allegro to be listed on Warsaw Stock Exchange

    Polish e-commerce giant Allegro will be listed Monday, October 12, on the Warsaw Stock Exchange at an estimated value of 9.4 billion euros.

    The company, owned by London-based investment funds Cinven, Permira and Mid Europe plans to raise about one billion zlotys (220 million euros) to repay its debts.

    Founded in 1999, as a local version of the eBay auction site, Allegro has seen remarkable growth, with sales up 19% in 2018, 31,1% in 2019 and 51.8% during the first six months of this year.

    Also, net profit reached 289.7 million zlotys (65 million euros) in the first half, compared to 195.7 million zlotys in the same period last year.

    The company has a medium-sized warehouse and intends to open a larger one, as well as four smaller ones, but over 90% of the products sold never go through the warehouses and go directly from the seller to the buyer.