![]() ![]() ![]() Forbes valued Wildberries at $14.5 billion in a rating of Russia’s most valuable tech companies, published Wednesday - second only to search giant Yandex. Nasdaq exchange last year.įounder Tatyana Bakalchuk still owns 99% of the company, making her the richest woman in Russia. The company is highly secretive about its finances, stating only that it sold $6 billion worth of merchandise in 2020 and that it is profitable - a difference from key rival Ozon, which turns a loss and raised $1 billion in funding for its own expansion plans on the U.S. The firm is now active in 13 markets, development director Vyacheslav Ivashchenko said Wednesday. Wildberries purchased a minor Russian bank - Standard Credit - in February in a bid to get an in-house payments system as it continues its rapid expansion across Russia and internationally. Wildberries controls around 13% of Russia’s e-commerce market, according to analytics firm Data Insight - more than twice the share of its nearest rivals, such as Ozon as well as spin-off initiatives from some of Russia’s largest companies, including Yandex, Sberbank and Mail.Ru. and Europe - with companies still jostling for position and investing heavily to win customers. However, the country lacks a clear dominant player - a role filled by Amazon in the U.S. Online retail is growing rapidly in Russia, and the pandemic has accelerated its development by years, analysts say. Wildberires will use local partners in each country to handle delivery logistics. The move follows other recent expansions, including into Germany, and means Wildberries is now active in all four of the EU’s largest consumer markets.Ĭustomers in France, Italy and Spain can use dedicated sites and mobile apps tailored to their market, the products on offer and in their language. The company has started selling in France, Italy and Spain, it said in a statement sent to The Moscow Times. This month Wildberries said it had bought a Russian bank in order to improve the payment service on its online platform.Russia’s top online retailer, Wildberries, launched in three major European countries Wednesday. "We offer our customers a wide range of products from various producers - both well-known global brands and small local businesses, and are open to cooperation with entrepreneurs from all countries," said company director of development Vyacheslav Ivashchenko. Bloomberg: Russian e-commerce giant Wildberries, which controls 14 of the market, has recently expanded into France, Germany, Italy, and Spain Winston Churchill, it's often said, quipped that you should never let a good crisis go to waste. It said only courier delivery is available in Italy at the moment. The retailer, which offers about 4 million products from 40,000 brands, said that items will be delivered using logistics partners, with thousands of partner pickup points in France and Spain. Belarus, France, Germany, Israel, Italy, Kazakhstan, Kyrgyzstan, Moldova. The Moscow-based company now operates in 13 countries, branching out into the European Union last year with the opening of a distribution centre in Warsaw, Poland. Wildberries is the largest Russian online retailer founded in 2004 by Tatyana Bakalchuk. MOSCOW (Reuters) - Wildberries, one of Russia's largest shopping sites said on Wednesday it was entering France, Italy and Spain. ![]()
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