Russia’s Yandex winds down e-grocery in Paris, hints at London exit – Reuters.com

March 31 (Reuters) – Russian internet giant Yandex (YNDX.O) is gradually winding down the Paris operations of its e-grocery service Yango Deli, a spokesperson said on Thursday, citing poor performance and hinting that an exit from the London market could follow.

The service, which aims to deliver grocery orders within 15 minutes using darkstores – dedicated warehouses that cater only to online clients – also operates in Israel and under a different brand in its primary market of Russia.

“Yango Deli is gradually suspending its ultra-fast grocery delivery operations in Paris,” a Yango Deli spokesperson said. “This was a pilot project with a small number of darkstores, and it has underperformed our internal targets.”

The spokesperson also said its London unit was the subject of interest from other parties.

“The ultrafast delivery market in London is highly competitive and we see a considerable amount of interest in our business there, including from peers,” the spokesperson said,…

Read Full Story: https://www.reuters.com/business/russias-yandex-winds-down-e-grocery-paris-hints-london-exit-2022-03-31/

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