14:02 12 January 2023
Shopee abruptly exits Poland, Allegro shares jump
The Singaporean technology group Shopee decided to leave Poland a year and a half after it launched operations in the country. The company said on its local website that orders are accepted until January 13.
Ian Ho, Head of Shopee Poland said on Thursday that the decision to leave is linked to high uncertainty in macroeconomics, retail portal Wirtualnemedia reported. Officially, Shoppe has not yet explained the reasons for withdrawing from Poland.
Shares in the Polish e-commerce platform Allegro rose by 3.6%, approaching 5-month highs, on the news that its rival leaves the market.
In 2022, Shopee exited France and Spain and announced layoffs and shuttering of certain operations in Latin America.
