In the first nine months of 2022 Wildberries saw turnover increase 95% year on year to over RUB1 trillion (around $16.5bn). The online retailer has enjoyed a wildly successful couple of years, it now dominates the Russian market and is almost twice the size of its closest competitor. Indeed, while it may not be a household name in the West, Wildberries …
A Russian court fined U.S. tech giants WhatsApp, Snapchat and Tinder on Thursday for refusing to store the personal data of Russian users inside the country, as stipulated by the demanding local legislation, U.S. company Meta, the owner of messaging service Whatsapp, was ordered by Moscow’s Tagansky District Court to pay 18 million rubles (nearly $300,000 at …
Russia fines Apple, Snapchat, Tinder, WhatsApp for data storage law violations Read More
On Monday Russia fined Google 21.1 billion rubles (some $263 million at the pre-war exchange rate, $360 million at the current rate) for repeatedly failing to remove prohibited content on its YouTube video platform. Censorship on the Russian Internet has been on the rise over the past few years, reaching totalitarian heights since the beginning …
The decision of Visa and MasterCard in early March — followed by Chinese UnionCard — to back away from Russia has affected dozens of millions of card holders from this country. While Russia managed to keep their cards active for domestic transactions at least until they expire, Visa and MasterCard cards can no longer use …
How Russia pushes MIR card adoption in new countries Read More
Russia’s domestic e-commerce market grew by more than 50% last year, reports research agency Data Insight, reaching 4.1 trillion rubles (around $55 billion at the average exchange rate). No less than 1.7 trillion orders were made, more than doubling (+104%) year-on-year — in which Data Insight sees an all-time record. Online sales accounted for some …
SberMarket, a delivery service owned by Sber, the state-controlled financial and digital giant, claims to have tripled its turnover in 2021 to 58.6 billion in 2021 ($800 million at the average exchange rate of the year, including VAT and excluding promotions). The number of delivered orders quadrupled to 24 million in the course of the …
With 24 million deliveries in 2021, SberMarket asserts leadership in Russian e-grocery Read More
On Feb. 1 Lenta, a major Russian retail group listed in both Moscow and London, announced it completed the acquisition of online-retailer Utkonos from Severgroup. Lenta will finance the 20 billion-ruble ($246 million) transaction by an additional issuance of its shares, which will be placed by closed subscription to Severgroup. As reported previously, preemptive rights may be exercised …
Russian retail major Lenta completes acquisition of e-grocery pioneer Utkonos Read More
Earlier this week several top Russian e-commerce companies announced impressive results for 2021, even though brick-and-mortar retail fully reopened in the country. Market leader Wildberries, Nasdaq-listed Ozon, and international platform AliExpress Russia significantly overperformed the market, which grew by at least 40% according to preliminary estimates (InfoLine). Wildberries: +93% Wildberries announced the turnover of its marketplace …
Russian e-commerce keeps growing fast: market leaders doubled sales in 2021 Read More
Last week Lenta announced an agreement to acquire online-retailer Utkonos from Severgroup. The parties expect to complete the transaction in February 2022. A major Russian retail group listed in both Moscow and London, Lenta aims to “create a leading e-grocery platform covering all key shopping missions and market segments.” Lenta will also “significantly expand its online …
Wildberries, the number one Russian e-commerce company, has launched sales on the UK market, its “19th country of presence.” UK customers can find on the site no less than 5.5 million goods from 164,000 international brands — from apparel and footwear, to beauty goods, toys, electronics and books — says Wildberries, cited by the TASS …
Russian e-commerce leader Wildberries makes first steps on UK market Read More
Jewelery lovers from France, Germany and Italy can now buy creations from Sokolov, one of the most established Russian jewelers, through Zalando. Sokolov is the first Russian jewelery brand to have made its products available on this major Western European marketplace. Zalando customers can receive these Russian-made items within just 1-2 days (premium service) or …
Russian jewelery made available to Western European consumers via Zalando Read More
In the latest move of a long saga, a Moscow court fined yesterday three US digital companies for violating the country’s personal data storage legislation. Facebook and Twitter were fined 15 million rubles (some $200,000 at the current exchange rate) and 17 million rubles ($230,000), respectively, for repeat infractions, while WhatsApp will have to pay 4 million …
