The best regulated crypto exchange
Find out why?
50 BTC prize pool!
Get your share!
I'm in

Chinese retail giant to launch online electronics shop in Russia

By Yana Berman

AliExpress venture will focus on big-name Asian brands

Chinese retail giant to launch online electronics shop in Russia

The Chinese on-line retail giant AliExpress is launching an electronics website in Russia, the business media websiteRBC reports.

The new platform, called Molnia Electronics, will sell big Asian brands, such as Toshiba, to Russia.

AliExpress’s Russia representative, Anton Panteleev, told RBC that Molnia Electronics will have a separate webpage tied to the main site. It will be operated by Zundao Group, an international company formed in 2006 to manage sales of electronics goods produced by Chinese tech giants and promote its own brands.

Zundao works directly with brands such as Xiaomi,Toshiba, Meizu, DJi, and others. Toshiba TVs were popular in Russia until supplies were suspended in 2015.

According to RBC, its annual sales reach 20 billion roubles ($308.6 million). Now the company is partnering with Russian firm Ruston to solve certification and customs issues.

Electronics are the most popular category of sales on AliExpress Russia, with goods and accessories ranked as second, RBC says.

Alibaba Group, the Chinese giant that owns AliExpress, posted strong performance figures for the second quarter of 2019 despite the trade war with the US. Quarterly revenue reached $16.7 billion, a year-on-year increase of 42%, while net profits reached $3.1 billion.

Alibaba Group Holding Limited
Trader sentiment
Daily change
Low: 0
High: 0
Like to share your thoughts and ideas about crypto and trading? You could join us as an external author. Email us on [email protected] to find out how you could become a contributor.
Subscribe to news
iMac Image
The most beautiful trading app
google play storeapple store
iPhone Image
iPhone Image