Ukrainian marketplace Kasta gets a new investor – Yaroslavsky
2 May 21:56
Ukrainian businessman Oleksandr Yaroslavsky will become a co-owner of the Kasta marketplace, one of the leading online retailers in Ukraine specializing in the sale of clothing, footwear, accessories and household goods. This is reported by "Komersant Ukrainian" with reference to the press service of the Antimonopoly Committee of Ukraine.
The deal is part of a complex financial transaction that includes borrowing and participation of Dragon Capital.
What does this deal entail?
According to the available information, Yaroslavsky enters the company’s capital through an investment mechanism that also involves Dragon Capital, one of the most influential financial institutions in Ukraine. This triangle of interests – Yaroslavsky, Dragon Capital and Kasta – creates a unique alliance that combines experience in managing large-scale projects, financial strength and digital expertise.
Why Kasta?
Kasta is not just a clothing marketplace. It is a platform that has its own IT infrastructure, logistics system, developed user base, and a solid reputation in the fashion-tech sector. Throughout the war, the company not only maintained its operations but also adapted its logistics to the new conditions, including launching secure delivery channels, expanding its range of essential goods, and launching fundraising initiatives.
What will Yaroslavsky get?
Participation in Kasta opens up a new segment for him – digital commerce. In the context of a growing digital economy and changing consumer habits, e-commerce in Ukraine is showing steady growth, even despite the war. For DCH business group, this is an opportunity to expand its portfolio of assets into the high-tech sphere and have a direct channel to millions of Ukrainian users.
What are the prospects for Kasta?
After the deal is completed, the company will receive an investment resource that can be used for
- scaling up the logistics network (in particular, in the western regions)
- opening offline showrooms in the “pick-up & try-on” format;
- launching own clothing brands under the D2C (direct-to-consumer) scheme;
- technological upgrade of the mobile application and platform.
What does this mean for the market?
This deal is evidence that Ukrainian online business not only survives but also attracts players from the “old economy”. It may trigger a wave of new M&A deals in the e-commerce sector, which in turn will lead to higher service standards, more competition, and capital inflows.
What you need to know about Oleksandr Yaroslavsky
Aleksandr Yaroslavsky is a Ukrainian businessman, investor and philanthropist known for his active involvement in the development of Kharkiv and support of various social initiatives. He was born on December 5, 1959, in Zhdanov (now Mariupol), Donetsk region.
He received his education at the Kharkiv Institute of Food Industry and also completed his postgraduate studies at the Odesa Institute of Technology, where he defended his PhD in engineering in 1989. In 1986-1987, he worked as an inspector at the Department for Combating the Theft of Socialist Property of the Moscow District Department of Internal Affairs in Kharkiv.
Since 1998, Yaroslavsky has been the president and major shareholder of UkrSibbank, which in 2006 was brought under the control of the international financial group BNP Paribas. After that, he founded and headed the DCH (Development Construction Holding) group, which unites assets in the fields of finance, industry, development and transportation.
In 2002-2006, Yaroslavsky was a member of the Verkhovna Rada of Ukraine of the IV convocation from the Green Party of Ukraine. He is also known as the former president of the Metalist football club (Kharkiv), in whose development he invested heavily, including the reconstruction of the Metalist stadium and the city’s preparation for Euro 2012.
Mr. Yaroslavsky’s other assets include the Karavan chain of shopping and entertainment centers, the Kharkiv Palace hotel, and Kharkiv International Airport, which he initiated the reconstruction of.
In 2016, he bought back a controlling stake in the Kharkiv Tractor Plant, which he had previously sold to Russian businessman Oleg Deripaska.
In 2022, Yaroslavsky was in the spotlight due to an accident involving his motorcade, after which he left Ukraine. Since then, he has led a non-public lifestyle, and his business activity has decreased. As of 2024, his wealth is estimated at $210 million, which is significantly less than in previous years.
Aleksandr Yaroslavsky is also known for his charitable activities. He finances various social projects, including education and healthcare, and supports the development of sports in Ukraine. In 2018 and 2019, he was awarded the title of Honorary Doctor by leading Kharkiv universities for his significant contribution to the development of the city and support of higher education.
What is Kasta?
Kasta is one of the largest Ukrainian multicategory marketplaces, founded in 2010 by entrepreneur Andriy Logvin. Initially, the company operated under the name ModnaKasta and specialized in selling fashionable clothes using the flash sales model. Over time, it has evolved into a full-fledged marketplace with a wide range of products, including clothing, footwear, electronics, accessories, and household goods.
As of 2023, the platform features more than 2,500 sellers and nearly 3.5 million products. About 70% of sales are made by third-party sellers who list their products on the marketplace, while the rest are products that Kasta ships from its warehouse.
In 2022, the company switched to the marketplace format, which allowed it to adapt to new market conditions. In 2023, Kasta was ranked 13th in the ranking of the 30 largest sellers on the Ukrainian Internet according to Forbes Ukraine with revenues of UAH 1 billion.
Kasta is also known for its own clothing brand, Kasta design, which offers basic and trendy models for men and women at affordable prices. The brand actively cooperates with Ukrainian designers and influencers, releasing themed collections and collaborations. Due to the constant improvement of services and expansion of the product range, Kasta remains one of the leaders of the Ukrainian e-commerce market, offering users convenient and profitable online shopping.
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