Sberbank, Russia’s largest bank, is considering the possibility of investing in X5 Group's online business, Kommersant reports.
According to the newspaper’s sources, the First deputy CEO of Sberbank Lev Khasis, who served as the CEO of X5 Retail Group N.V. from 2006 to 2011, is in charge of the issue on the part of Sberbank. Other companies, including AliExpress Russia, are also showing interest in the online business of the X5 Group.
X5 Group can sell up to 50% of its online business to potential partners, Senior Analyst at Gazprombank Marat Ibragimov said. The company will bring to the partnership its customer base, an understanding of consumer demand, and a wide network of stores that can serve as collection points for orders, while Sberbank has financial resources and possible additional online services, the expert believes..
Lev Khasis, the First deputy CEO of Sberbank
Marat Ibragimov, the Senior Analyst at Gazprombank
X5 Group is the largest food retailer in Russia and is number 11 in the world's top-50 fastest-growing retailers in 2020, according to Deloitte. In June, the X5 Group separated its online business into a new structure.