Cainiao, a Chinese company incorporated in Alibaba Group and engaged in delivery of 70% of all parcels in China, plans to open a subsidiary in Russia, Kommersant newspaper reports citing its source.
The new branch will be headed by a current vice president of LeEco in Russia and Eastern Europe, Alex Vasilyev.
“Cainiao will establish an eco-system of logistics, fulfilment and warehouse companies around business of AliExpress in Russia both for trans-border trade and Russian business,” the source familiar with company’s plans told the paper.
Entering of Cainiao to the Russian market will become good news for Russian logistic operators, since it will lead to increase in working capital, believes the president of the National Association of Distance Selling, Alexander Ivanov. Meanwhile, he believes, this will get Russian online shops thinking of the way to counter further expansion of AliExpress, which is also incorporated in Alibaba Group.