Polish marketplace Allegro goes online in Hungary in latest expansion (updated)

Allegro.eu SA

02/10/2024 12:07

(Adds additional details, CCO quote in paragraph 4)
       Oct 2 (Reuters) - Polish e-commerce platform Allegro
 ALEP.WA  said on Wednesday it has launched operations in
Hungary, ramping up its Central European expansion.
    Allegro, which has also launched in the Czech Republic and
Slovakia in the past year-and-a-half estimates that its
Hungarian site could bring in 10 million new clients.
    Allegro said in a statement that the Czech and Slovak
expansion had increased its potential client base by 16 million
and since launching in the two countries its online marketplace
has amassed more than 2.5 million active buyers.
    "Expanding into Hungary is another step closer to realising
Allegro's vision of being Europe's favourite shopping
destination," said Allegro CCO Matthias Frechen, adding:
"Hungary is one of the most promising European directions".
    Allegro beat second-quarter market forecasts with
higher-than-expected adjusted EBITDA, but also pointed to slower
third-quarter growth in Poland, its biggest market.

 (Reporting by Tymon Miller, Editing by Louise Heavens and
Alexander Smith)
 ((Tymon.Miller@thomsonreuters.com; +48 58 769 66 78;))