Japanese invest in Russian foodstuffs delivery service | Central regions, Retail, FMCG MarchmontNews.com

Central regions | Retail, FMCG | Finance, business

Japanese invest in Russian foodstuffs delivery service

21 Jul '17
Mitsui & Co, a Japanese financial and industrial group, has just invested $3.5m in Chefmarket, a Russian online service delivering food ingredients, ready meals, and recipes, Firrma.ru reported.

This is Mitsui’s second investment round in the Russian company. In 2016, Chefmarket raised an initial $1.3m from the Japanese. Mitsui considers the retail and services sector, including e-commerce and TV shopping, a business priority.

Set up in 2012, Chefmarket offers customers a range of services based on outsourced ingredients and own small-scale ingredient production, delivering customized orders and recipes for home cooking. The company recently said it delivers more than 100,000 dinners a month to a variety of client segments, primarily women.

Chefmarket is present in three of European Russia’s key regional markets, including Moscow, St. Petersburg, and Nizhny Novgorod. According to founder and CEO Sergei Ashin, the company is shooting for a noticeable share in new niche markets in Central Russia, and has plans for global expansion.