Investors from Poland have high hopes for e-commerce after the Allegro IPO
Managers of MCI Capital, the largest PJSC in Poland, hope very much that the latest huge initial public offering (IPO) in e-commerce is a great indicator for the economy, Bloomberg's experts write. The virtual store Allegro.eu was estimated by experts in the deal at $25 billion in its work over the past month. One reason for this is the quarantine, during which the people of Poland started shopping mainly on the Internet.
Concerning e-commerce, this moment is a turning point in the history of its development. Analyzing the positive outcome of sellers who entered the Allegro.eu platform, MCI Capital is preparing for an IPO to place shares in Answear.com. Answear.com has a range of products from world-renowned companies such as Levi's, Adidas, Tommy Hilfiger and Calvin Klein Jeans. This and other information can be confirmed on the official website of the store. MCI recently sold its business, ATM Group, to a Goldman Sachs-financed institution.
The deal was worth about $135 million. This and other agreements have become a good sign for professionals in the field of direct investment. Answering the Bloomberg's questions, the MCI founder said that the example of Allegro and ATM inspires confidence that the industry will grow rapidly and create new opportunities for business and the public. Also, one of the MCI managers claims that the quarantine provoked a significant surge in the transition of shoppers to virtual shopping, and this process has reached a point of no return.
Consequently, the trend towards online shopping will become more and more popular. Moreover, independent experts from around the world say this is just the beginning and predict that virtual holiday shopping will increase by a third this year compared to the previous year. MCI, being one of the key participants in the aforementioned agreements with Allegro, is placing significant emphasis on digitalizing the business, as Bloomberg reports. If you go to the business's webpage, you will see that it was created 22 years ago and a share of 76% belongs to its managers.