AliExpress Russia, a joint venture launched in 2019 by Alibaba and Russian partners, operates domestic and cross-border transactions.
Highlights
- Alibaba Group Holding laid off about 40% of staff in Russian joint venture.
- China e-commerce giant could not be immediately reached for comment.
- Company depends on cross-border sales for more than three-quarters of its business.
- It has been slower to benefit from a pandemic-led ecommerce boom as supply chains adjust to new travel curbs.
- AliExpress Russia is a joint venture launched in 2019 by Alibaba and Russian partners, operates domestic and cross-bunded transactions.