Yandex spinning off own Yandex Market brands into separate business line

MOSCOW. Sept 24 (Interfax) - Yandex is spinning off its own brands from the Yandex Market marketplace into a separate business unit to be developed under the name Yandex Factory, the company said.

The new unit will be part of the E-commerce, Ride-tech and Delivery business group.

About 10 of Yandex's own brands can currently be purchased on the marketplace platform.

The spin-off into a separate business unit will allow Yandex "to expand its distribution and sales channels substantially, not only online, but also in retail chains."

"The team in this unit will continue to create products and devices under existing and new brands. Meantime, the new company will continue to cooperate closely with Yandex Market," the company said.

Yandex Market has been developing its own brands since 2021, particularly products for children and the home, accessories and electronics, and construction tools.