Last week Russia’s leading multi-category e-commerce platform, Ozon Group, announced its turnover rose to a record in the second quarter, as the global pandemic spurred more people to shop online.
Turnover, or gross merchandise value (GMV), surged 188% year on year to 45.8 billion rubles ($611 million) in Q2 2020, Ozon said in a statement. In the first half of the year, GMV reached 77.4 billion, which is 152% higher compared with the same period last year.
GMV is the total value of orders processed through Ozon and revenue from services to buyers and sellers on the platform, excluding Ozon Travel. GMV is inclusive of VAT, net of discounts, returns and cancellations.
AFK Sistema, dual listed in London and Moscow, and Russia’s leading private equity fund Baring Vostok are Ozon’s main shareholders.
Russian e-commerce major Ozon posts record turnover growth as pandemic fuelled online shopping in Q2 2020Read More
