Alisher Usmanov's company to launch Russian AliExpress in the coming year

The joint venture of the Russian Direct Investment Fund (RDIF), Alibaba Group, Megafon and Mail.ru in the field of e-commerce - AliExpress Russia is in the final stage of coordination and will start working in early 2019. This was announced by co-owner of USM Holdings Alisher Usmanov in an interview with the Russia-24 TV channel.

It should be recalled that in September 2018, it was announced that the commissioning of the largest joint venture in the field of social commerce in Russia and the CIS countries called AliExpress Russia would soon take place.

The Chinese Alibaba Group will contribute to the joint venture and the Russian part of the Tmall site.

“Based on the information I have received, we are nearly at the final stage of commissioning the project,” Usmanov said. “I think that next year the company will be launched, we really hope so.”

He noted that to complete the transaction it is necessary to ensure compliance with several conditions that implied the creation of an alliance. Firstly, to organize technological security by Russian resources, and secondly, to provide an opportunity to use Alibaba’s technologies in Russia. In addition, Usmanov noted the need for finding JV servers in the territory of the Russian Federation.

The co-owner of the USM Holdings also added that two more technological points are already in the final approval stage.

Usmanov is the largest shareholder of USM Holdings, which controls the manufacturer of iron ore products Metalloinvest and the cellular operator Megafon. USM Holding is also a co-owner of the Internet company Mail.ru Group through a joint venture with Megafon and Gazprombank. At the same time, control over the share of USM in Mail.ru Group belongs to the leadership of the Internet company.