Russia's Yandex to spend 'tens of millions of dollars' on fashion

By Reuters

Russia's Yandex said on Wednesday it had started selling clothing, footwear and accessories on its Yandex.Market e-commerce service, months after pulling out of a deal to buy online fashion retailer KupiVIP. Sometimes described as Russia's Google, Yandex offers services ranging from advertising and search to ride-hailing and food delivery and has said it plans to spend around $650 million on e-commerce initiatives this year. Yandex.Market did not disclose financial terms, but said in a statement that it would spend “tens of millions of dollars” to develop its fashion division in 2022.

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