WARSAW (Reuters) -Polish e-commerce company Allegro’s CEO on Friday denied that the company was in disagreement with any of its partners, despite its relationship with delivery partner InPost souring. “We do not believe that we are involved in any business or other dispute with any entity,” Allegro’s CEO Marcin Kusmierz, who took the top job […]
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E-commerce company Allegro not in disagreement with any partners, CEO says
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WARSAW (Reuters) -Polish e-commerce company Allegro’s CEO on Friday denied that the company was in disagreement with any of its partners, despite its relationship with delivery partner InPost souring.
“We do not believe that we are involved in any business or other dispute with any entity,” Allegro’s CEO Marcin Kusmierz, who took the top job in June, told reporters when asked about InPost.
InPost shares fell around 13% on Tuesday after it reported slower volumes growth in Poland. Its shares have lost more than a third of their value so far this year but were up 9% at 1340 GMT. Shares in Allegro were up around 2%.
InPost, which according to JPMorgan gets 30% of its Polish revenue from Allegro, in July filed an arbitration claim against Allegro, saying that it had breached their long-term delivery agreement.
InPost said Allegro had been redirecting customers to its own lockers. Commenting on the claim on Tuesday, InPost’s CEO Rafal Brzoska said the company had to look after the interests of its shareholders.
Allegro’s Kusmierz said his company respected all business relations or agreements and has been adding new logistics partners in the interests of its customers.
InPost declined to comment.
InPost has the largest network of automated parcel lockers in Poland, but Allegro has been deploying its own lockers and teaming up with other delivery partners to add them to the service it manages, as it aims to bring its delivery costs down.
JPMorgan analysts said in a note that they expected the companies to come to a mutually beneficial arrangement given their interdependence, though flagged it might lead to some loss in InPost’s margins.
They estimated InPost’s Polish business to represent 48% of revenues in 2025 but that to decline to 35% by 2030 as InPost scales abroad, affirming their “overweight” rating on the stock.
(Reporting by Anna Koper in Warsaw and Anna Pruchnicka in Gdansk; Editing by Matt Scuffham)