Ozon plans grab at Chinese trade in Russia

Russian online retailer Ozon will begin hosting merchants from China and Europe this year to tap booming cross-border trade, its chief executive said.

Ozon, part owned by the Sistema conglomerate, also plans to make major investments in new warehouses in Russia’s regions to accelerate sales growth, Danny Perekalsky said in an interview at the St. Petersburg International Economic Forum.

“We are developing cross-border [trade] and want to sell merchandise from China and Europe as early as the third quarter,” Perekalsky said.