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Russia’s Melon Fashion Group launches sales on Amazon

One of Russia’s leading fashion retailers has launched international sales on Amazon, as companies from the region move to expand their online presence. St. Petersburg-based Melon Fashion Group will now offer apparel under its brand befree on the world’s largest e-commerce platform, according to a company release. Melon Fashion operates four brands, specialising mainly in …

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Western-funded KupiVIP shuts down after 13-year e-commerce story

On Sept. 1 KupiVIP, once a top Russian fashion site, and its affiliate Mamsy.ru, wound up their operations Sept. 1, unable to compete with Russia’s new generation of online retail giants. “For 13 years we made you happy with each purchase [but] our story is over now,” says a statement posted on the KupiVIP site. …

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Glorious story but modest exit for online fashion pioneer KupiVIP

Update July 9: Yandex announced the cancellation of the deal, for undisclosed reasons, according to media reports. The company is considering “other options to enter the fashion segment.” Yandex.Market is in the process of acquiring KupiVIP, one of the most established e-commerce brands in Russia, founded back in 2008 by German entrepreneur Oskar Hartmann. Also …

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In 2020, Russian e-commerce recorded one of the world’s highest growth rates

Specialized research agency Data Insight has just released the international version of its Russian e-commerce report for 2020. Domestic sales of physical goods amounted to 2.7 trillion rubles (some $37 billion at the average exchange rate of the year), up 58% from 2019 — placing Russia among the world’s fastest-growing e-commerce markets. Several segments recorded …

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Global Fashion Group raises €120 million on German stock exchange; Lamoda expects capital injections

Last week Global Fashion Group (GFG), an international online fashion group focusing on growth markets – including Russia and neighboring countries where the group is represented by Lamoda – raised some €120 million in gross proceeds. The group issued new shares on the Frankfurt Stock Exchange, where it is has been listed since July 2019. These 16.5 million shares were placed with institutional …

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How COVID-19 is shaking Russia’s online and offline retail

Russian retailers have been rocked for the past six weeks as epidemic fears were mounting among the population. Even before the shutdown of many offline outlets – which was ordered in Moscow city on March 31 – online demand surged across a host of products. Conservation-type food products became in strong demand in late February, with market leader Utkonos reporting a 60% sales spike in comparison with the same …

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Russian e-commerce major Ozon secures $150 million from local and US investors

Russian e-commerce major Ozon has just announced a $150 million round of financing, consolidating its position among the most well-funded local market players. The money is coming from three investors bringing equal contributions: the Moscow-based private equity firm Baring Vostok Capital Partners, the corporate fund Sistema_VC and a new investor, the US VC firm Princeville Capital.  The deal took the form of a …

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Ozon caps prices for the most sought-after goods to prevent gouging

As the Russian government called retailers to keep their prices stable in spite of spiking demand for certain goods, Ozon – a top online retailer and marketplace – announced Friday that it was capping the prices of essential goods to protect customers’ interests.  Even though Russia had only 367 confirmed COVID-19 cases as of March …

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Anna Kuzmina: “The Russian e-commerce market is very big, but not in the way it is usually assessed”

Addressing the lack of internationally-available information on this topic, East-West Digital News recently released an in-depth report on Russian e-commerce. Each week we’ll publish here its best excerpts, including interviews with major domestic and international players, trend analysis from top market experts, and practical recommandations for companies to succeed in this market. This series is starting today …

Anna Kuzmina: “The Russian e-commerce market is very big, but not in the way it is usually assessed” Read More

Russian e-commerce is entering accelerated development cycle, says new EWDN report

Addressing the lack of internationally-available information on Russian e-commerce, East-West Digital News has just released an in-depth study on this market. Among EWDN’s partners in this initiative are Data Insight, Russia’s leading data provider in this field, the E-Commerce Russia Association (NAMO), Ecommerce Foundation, an international expertise center based in the Netherlands as well as such …

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Alibaba, Mail.Ru, MegaFon and RDIF commit to invest nearly $400 million in Russian social commerce joint venture

Yesterday Alibaba, Mail.Ru Group, Russian telco MegaFon and sovereign fund Russian Direct Investment Fund (RDIF) announced they received approval from Russia’s antimonopoly authorities for their “social commerce joint venture.” The JV will leverage on the existing businesses of AliExpress Russia, the B2C marketplace owned by Alibaba which controls a large part of the e-commerce flows between China and Russia. The partners …

Alibaba, Mail.Ru, MegaFon and RDIF commit to invest nearly $400 million in Russian social commerce joint venture Read More

Lamoda posts 23.5% sales growth year-on-year, develops marketplace model

Lamoda, a Western-founded and managed Russian e-commerce leader in the fashion segment, saw its sales surge by 23.5% year-on-year in Q1 2019. During this quarter, the platform’s sales exceeded €111 million, including Lamoda’s business in Russia, Belarus, Ukraine, and Kazakhstan. Also included in this number are Lamoda’s marketplace sales. These grew more than threefold in …

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