E96.ru, an online retailer of consumer electronics and home appliances based in Ekaterinburg, claims that it generated no less that 1 billion rubles (approximately $33 million) in sales during the first quarter of 2013, up 206% from the same quarter of 2012.
The future will determine how long the company will maintain this pace, but e96.ru can already be regarded as a major player in a market where two dozen companies at most exceed the $100 million annual turnover mark.
The site currently serves 400 towns and cities in 14 Russian regions, mostly in the Urals and Siberia. e96.ru says its dramatic growth has been triggered by its recent expansion to new regions along with a new section dedicated to children’s goods.
“We’ve also introduced hundreds of local logistic hubs, which has considerably reduced delivery time in many areas,” the company’s PR manager Vladimir Gubarev told East-West Digital News.
Last year IQ One Holdings acquired a controlling stake in the company – a move that had not been disclosed at the time. The e-commerce arm of IQ One, a Moscow-based, IT-focused investment and asset management company, IQ One Holdings also owns stakes in Utinet.ru, a leading online consumer electronics retailer, and in Sotmarket.ru, which specializes in mobile devices and accessories.
The holding will soon announce several new acquisitions, a source in the industry told EWDN.
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