E-Commerce

X5 Group teams up with Plug and Play to bring more sustainability to Russian retail

February 16, 2022

X5 Retail Group, a leading Russian food retailer listed on the Moscow and London stock exchanges, is launching an international joint program with Plug and Play to scout for innovative approaches to sustainable development. The program will focus on reducing waste and greenhouse gas emissions as well as sustainable packaging. It will start in the …

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Russian retail major Lenta completes acquisition of e-grocery pioneer Utkonos

February 11, 2022

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 …

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Russian e-commerce keeps growing fast: market leaders doubled sales in 2021

February 7, 2022

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

Booking.com to pay 1.3 billion ruble fine over abuse of dominant position

February 8, 2022

On Monday, Jan. 31, a Moscow court rejected Booking.com’s appeal against a 1.3 billion ruble fine ($17 million at the current exchange rate) in relation with alleged violation of the antimonopoly legislation. While expressing its “disappointment” with the ruling, Booking.com said it intends to pay the fine. The company does not rule out “further legal …

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Russian startup bets on AI to sell vitamins online and expand globally

January 28, 2022

Just eight months after launch, a startup called Vitobox — which offers personalized combinations of vitamins and nutritional supplements — has raised 107 million rubles ($1.4 million) at a $14 million valuation.  The funding will go, in particular, to international expansion: the startup plans to launch pilot projects later this year in Kazakhstan, the UAE, …

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Russia’s e-commerce leader Wildberries bought a bank to launch virtual debit card and instant refund

January 27, 2022

Wildberries has just launched its first financial product — a virtual debit card that allows its customers to make purchases on the marketplace with a 2% discount. The news was reported earlier this week by RB.RU, which cited  the company’s press service.  Only users with a Wildberries account can get the ‘WB Card,’ which is provided at …

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From Moscow to Lille, France: This startup changes the way retailers fill product cards

May 16, 2022

While many internationally-oriented Russian startups move to Silicon Valley, or to such European alternatives as Berlin, London or Riga, Branquad made a different choice. This Russian digital commerce startup recently landed in Lille, a large, tech-friendly city in the North of France.  Not only does its case provide yet another example of an International Russian …

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Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers”

March 27, 2024

As Buy Now Pay Later (BNPL) has become a popular way for consumers around the globe to settle their purchases, Russia’s Central Bank is seeking to regulate this activity. In this exchange with East-West Digital News,, industry pioneer Irene Shvakman – who co-founded Revo Technologies, Russia’s first BNPL service, even before today’s Western leaders appeared …

Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers” Read More

Russia’s Melon Fashion Group launches sales on Amazon

January 3, 2022

One of Russia’s leading fashion retailers has launched international sales on Amazon, as companies from the region move to expand their online presence. St. Petersburg-based Melon Fashion Group will now offer apparel under its brand befree on the world’s largest e-commerce platform, according to a company release. Melon Fashion operates four brands, specialising mainly in …

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Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025

February 7, 2022

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 …

Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025 Read More

Russian e-commerce leader Wildberries makes first steps on UK market

December 21, 2021

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 …

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Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg

December 16, 2021

August Meyer, co-owner of cosmetics chain Rive Gauche and former co-owner of now defunct online retail Ulmart — was arrested Wednesday last week in St. Petersburg. Meyer and his wife, Inna Meyer, are suspected of embezzling 2.4 billion rubles ($32.6 million at the current exchange rate) from state-owned bank Sberbank on the pretext of developing Ulmart shortly …

Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg Read More

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