Sberbank : Sber ecosystem to add e-commerce marketplace

Sber, M.Video-Eldorado Group, and goods.ru founder and co-owner Alexander Tynkovan have signed a memorandum of intent to join hands in developing the marketplace goods.ru.

The parties are set to sign a binding agreement in the first half of 2021 after completing a comprehensive investment audit, obtaining all permits from the parties' corporate governance bodies and the FAS, Russia's antitrust watchdog.

For the purpose of the deal, the goods.ru marketplace has been valued at approximately RUB10 bn. Under the terms of the agreement, Sber is set to invest some RUB30 bn in the development of goods.ru and will additionally buy out some of the goods.ru shares currently held by M.Video-Eldorado Group for RUB4 bn. As aresult of the deal, Sber's shareholding in goods.ru will reach 85%, while 10% will be retained by M.Video-Eldorado Group, and 5% will stay with Alexander Tynkovan. All parties are expected to be represented on the marketplace's board of directors.

The integration of goods.ru into the Sber ecosystem, the use of all available know-how and expertise, as well as the realization of synergies with companies of the Sber ecosystem like SberLogistics, SberMarket, SBER EAPTEKA, and Samokat, will position stakeholders to use goods.ru assets to create a key e-commerce player in Russia. Goods.ru will become Sber's key multi-category e-commerce venue, which already has 18 main categories with 2.5 million products, and moving forward their number will be growing.

While remaining a JV partner, M.Video-Eldorado Group will focus on its core business. The group intends to expand the range of products on its marketplace pursuing the 3P model (selling goods of partners without creating stocks) both via direct contacts with manufacturers and retailers and through the goods.ru infrastructure on its platform (white labeling), as well as to keep working on the projects it runs with goods.ru.

Presenting our three-year strategy during the latest Sber Investor Day, we paid much attention to the evolution of e-commerce services and set ourselves some ambitious goals in this industry. The partnership with M.Video-Eldorado Group and Alexander Tynkovan is a vital step to achieving our goals. Our competencies, the invaluable experience, and the extensive expertise of the founder and shareholders of M.Video-Eldorado Group will position us to create an attractive service meeting today's customer demands

Lev Khasis

First Deputy Chairman of the Executive Board, Sberbank

The history of goods.ru gives credence to M.Video-Eldorado's extensive e-commerce expertise, as well as the Group's ability to quickly adapt new digital models and practices amid a rapidly changing business landscape. Not only will the partnership with Sber help attract new resources for marketplace growth, but it will also allow it to join one of the largest ecosystem projects that Russian e-commerce has ever seen

Alexander Izosimov

CEO, M.Video-Eldorado Group

In only three years since the first prototype, goods.ru has grown into a leading e-commerce player in Russia. The team has managed to bring to life our vision of a real marketplace, i.e. an open platform without stocks, connecting product owners and customers. One of the strengths of the project is its easily scalable model and complementarity to any platform. We see great potential in combining the deep expertise of goods.ru in the non-food online market and that of Sber in food e-comm and logistics, including the last mile. Investments and integration into the Sber ecosystem will allow goods.ru to market the best services in the Russian market to buyers while offering the best terms to partners

Alexander Tynkovan

Founder and co-owner, goods.ru