Oslo, Norway, 27 April 2022 - Adevinta has today announced plans to exit Kufar, its classifieds business in Belarus, transferring 100% of Kufar shares to the existing local team. When Adevinta announced its strategy of ‘Growing at Scale’ in November 2021, the company identified Belarus as one of its operations to be placed under review. In light of the recent developments in Ukraine this review has been accelerated, and Adevinta has decided to exit Belarus, while focusing on its five core European markets (Germany, France, Spain, Benelux and Italy).
Founded in 2012, Kufar is a leading classifieds and e-commerce business in Belarus, offering both new and second-hand goods in addition to online credit services for customers. Since its creation, the business has rapidly gained popularity and is now one of the best-known classifieds sites in the country with over 5.8 million active users per month. Kufar was originally part of the Schibsted portfolio, before transferring to Adevinta in 2019.
Rolv Erik Ryssdal, Adevinta CEO, said: “Last year, we announced the launch of a review of several of our businesses, including Kufar, as part of our strategic decision to focus on bolstering market-leading positions in our five core European markets. Kufar is a business with a lot of potential, and we are confident that the company will continue to grow under the leadership of Tanya Lemesheva and her management team.”
Tanya Lemesheva, Kufar CEO, said: “Being part of the team and journey that has witnessed Kufar expand and grow into a profitable business and now a market leader in second-hand online marketplaces in Belarus, with 141 employees, has been a privilege. This exit represents a new chapter for the brand which should initiate further growth and innovation.”