E-Commerce

Baring Vostok and Sistema provide $150 million convertible loan to Ozon

July 30, 2019

Baring Vostok, a major Moscow-based international PE firm, and Sistema, a large Russian conglomerate, have provided a 10 billion ruble (roughly $150 million) convertible loan to online retailer Ozon. The funds will help the company “maintain its current growth rate and to develop its warehouse infrastructure, IT-platfrom, marketplace and financial services offerings,” according to a …

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Russian online retailer Ozon plans tenfold logistic expansion after record growth

March 31, 2020

The sales revenues (GMV) of Ozon, Russia’s leading multi-category e-commerce platform, increased by 73% last year, reaching 42.5 billion rubles (nearly $680 million) incl. VAT. More than 15 million orders (74 million items in total) were processed, the company announced last month. Much of the activity increase was driven by a larger assortment (now 1.6 …

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Russian e-commerce ranking: local fashion site Wildberries maintains leadership, Western players show contrasted results

July 12, 2019

Each year specialized research agency Data Insight releases its ranking of Russian e-commerce sites. Sites are ranked by sales volume (incl. VAT), number of orders and average order value as estimated by the research agency and, in certain cases, confirmed by the companies. (The ranking excludes foreign players, which explains why AliExpress is not mentioned.) …

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Visa launches cash withdrawal pilot project in Russia

July 13, 2019

“Visa announces technical implementation of cash withdrawal services at cash registers at trade and service enterprises in Russia. The service is currently being tested as a pilot in partnership with Russia’s The Parmesan retail chain and the Agricultural Bank,” the company said. The plans for the payment system include making the service available throughout the …

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Yandex.Market Chairman of the Board Gabriel Naouri: “The Russian market offers huge opportunities and is very open to foreign players”

July 13, 2019

A former top executive of Casino Group, a major French retail group, and advisor to the CEOof Æon Group, Japan’s largest retailer, Gabriel Naouri is Chairman of the Board of Yandex.Market. This Yandex-Sberbank joint venture, agreed in 2017, owns three e-commerce platforms: Yandex Market, a popular e-commerce aggregation and price comparison platform launched in 2002; Beru, an …

Yandex.Market Chairman of the Board Gabriel Naouri: “The Russian market offers huge opportunities and is very open to foreign players” Read More

Up to 15% of online purchases in Russia are made on credit

July 13, 2019

Yandex.Checkout, the B2B branch of Yandex.Money, recently released a study about online sales on credit in Russia. The research is based on the data collected by the company itself, following the launch of  its ‘Payments in installments‘ offer in March 2018. The key findings of the study are as follows: Most concerned product or service categories Electronic …

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Food delivery startup attracts $7.6 million from Mail.Ru Group and top businessmen

November 12, 2020

Instamart, a Moscow-based startup that organizes food deliveries from offline retail outlets, raised 500 million rubles (approximately $7.6 million at the current exchange rate). As reported by VC.RU, the deal, which took place last month, valued the company at 1.8 billion rubles (around $27.5 million). The money was brought in by Mail.Ru Group, Sberbank top …

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Popular Russian online stores and publishing houses banned from Ukraine

July 13, 2019

Ukrainian Internet users have been blocked from accessing three popular Russian online stores: Ozon.ru, LitRes.ru and Labirint.ru. The ban followed a recent decision by Ukraine’s National Security and Defense Council (NSDC) that expands the list of legal entities under economic sanctions. The sanctions, among other things, include limitations on their commercial activity and a prescription to block …

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New online bank to serve cross-border transactions from and to Russia

July 13, 2019

Bank 131, a new digital bank focused on Russian companies and entrepreneurs that work for global Internet companies and/or buy from global e-commerce companies with a Russia presence, announced today they have received their banking license from authorities – the first and only new bank to do so in four years.  Bank 131’s mission is …

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Sberbank launches corporate travel booking service with all-electronic document flow 

July 13, 2019

Sberbank, the giant state-controlled financial institution, has made a new step to extend activities to ever-new fields. Presented just days ago, ‘Business Travel’ helps the bank’s corporate clients organize business trips, buy rail and air tickets, or book hotel rooms. The business trip documents required under Russian legislation – such as the ‘letter of assignment’ …

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Meet retailers, experts, startups and investors at Fashion Tech Day (Moscow, May 16)

July 13, 2019

On May 16 the Moscow Technopolis expo center wlll play host to the second edition of Fashion Tech Day, a must-attend international conference dedicated to the fashion retail tech and e-commerce industries (see site in Russian or presentation in English). This event is co-organized by East-West Digital News and the venture fund The Untitled, in partnership …

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Russian marketplace B2B-Export secures $4 million from top African businessman

July 13, 2019

B2B-Export, an online platform that helps Russian industrial companies sell their products abroad, has received $4 million from African businessman Isaac Kwaku Fokuo, Jr., in exchange for a 5% stake. The news was reported last week by the online publication Rusbase based on an exchange with B2B-Export’s founder Ekaterina Dyachenko. “We have a common geographic …

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