Sberbank intends to acquire 85% of the Goods.ru marketplace from the M.Video-Eldorado group and its founder, Alexander Tynkovan. The entire site is estimated at 10 billion rubles, Sberbank will invest about 30 billion rubles in its development. After an unsuccessful attempt to launch a marketplace with Yandex, the new partnership will allow the bank to compete for at least third place in the online trading market, experts say.
Sberbank signed an agreement of intent with the M.Video-Eldorado group (part of Mikhail Gutseriev’s Safmar) and its president, Alexander Tynkovan, to purchase an 85% stake in the Goods.ru marketplace, follows from the message of M.Video-Eldorado and Sberbank. Now Goods.ru (Marketplace LLC) is 80% owned by M.Video-Eldorado and 20% owned by Mr. Tynkovan. As a result of the deal, it is expected that 10% of the company will remain with M.Video and 5% with Mr. Tynkovan. The entire marketplace was estimated at 10 billion rubles, and Sberbank buys out a part of M.Video-Eldorado’s share for 4 billion rubles. In total, the bank plans to invest about 30 billion rubles in the development of Goods.ru. and integrate it into your ecosystem, which already includes projects from the field of e-commerce “SberLogistika”, “SberMarket”, “Sber EApteka” and “Samokat”.
For Sberbank, this is the second attempt to launch its own marketplace.
In 2018, he entered into a joint venture with Yandex, within which the Beru marketplace was launched, but two years later the partners dispersed, and Yandex agreed to buy out Sberbank’s stake in the enterprise for 42 billion rubles.
For the first time about negotiations between Sberbank and M.Video became known in November 2020. The bank was also interested in purchasing one of the largest online retailers in Russia, Citylink, a member of the Merlion group, reported “Kommersant” on January 11.
At the end of 2019 Goods.ru occupied 26th place in the Data Insight ranking in terms of online turnover. The acquisition of the marketplace will allow Sberbank to compete for at least third place in the market after Wildberries and Ozon, which Yandex and AliExpress Russia are also claiming, says Mikhail Burmistrov, CEO of Infoline-Analytics.
In 2020, Goods.ru, according to his estimate, more than doubled its turnover, to 12.1 billion rubles. Taking into account the investments of Sberbank in 2021, sales growth can be expected by three to four times, Mr. Burmistrov said.
“Goods.ru has experience in integration and the necessary IT infrastructure, and Sberbank has a huge audience, which will allow the site to quickly increase its market share after integration into the bank’s ecosystem,” the expert said. However, Goods.ru will probably have to abandon the existing integration into the application and ecosystem of Tinkoff Bank, he warns.
For M.Video-Eldorado, Goods.ru remains an important partner, since the group uses this platform, among other things, to promote its products, explains Data Insight partner Fedor Virin. There will be no direct competition between the players, since the companies have different audiences and M.Video-Eldorado focuses more on the segment of electronics and household appliances, which will continue to develop, he said.
Medium-sized market participants like Goods.ru are now the most difficult to develop, since they do not have the amount of money to buy traffic, as, for example, Ozon does, says Virin. Such a major partner as Sberbank, according to the expert, will provide Goods.ru with the required volume of traffic, and he himself will receive expertise in the field of e-commerce.
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