E-Commerce

Russian jewelery made available to Western European consumers via Zalando

Jewelery lovers from France, Germany and Italy can now buy creations from Sokolov, one of the most established Russian jewelers, through Zalando. Sokolov is the first Russian jewelery brand to have made its products available on this major Western European marketplace.  Zalando customers can receive these Russian-made items within just 1-2 days (premium service) or …

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Auchan partners with Sber to accelerate ‘phygital’ commerce development

Auchan has inked with SberMarket — a delivery service owned by Sber, the state-controlled financial and digital giant — a “strategic cooperation” agreement in the field of e-commerce. The agreement will be in force until 2028, according to a Sber press-release. The partnership aims to “accelerate the development of Auchan’s ‘phygital’ commerce in Russia. The parties …

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International family office invests in Russian sexual wellness startup

Earlier this month Tizzi, a Russian “sexual wellness” startup founded in 2019, announced the completion of its second investment round, attracting 80 million rubles (around $1.1 million). The funding was provided by Mikhail Ryvkin — a business angel who already invested in such projects as ‘Gym-Gym’ and ‘Bright Kitchen’ — alongside an undisclosed “international family office.”  Tizzi …

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How the pandemic has impacted retail, logistics and delivery in Russia

The pandemic has had an unprecedented impact on retail and delivery markets. In Russia, e-grocery was among the most impacted industries: the number of orders in this segment increased by 174% y-o-y in the first half of 2021, according to Data Insight. Fast delivery has become one of the main trends in the food sector …

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Tinkoff enters e-commerce race as competition intensifies

Russian online bank Tinkoff has launched an e-commerce venture. The new platform, a constellation of services and tools designed to help entrepreneurs handle and boost their online sales, will cater to a rapidly expanding online economy in Russia, as well as to clients hoping to grow their international presence. Tinkoff has hired Ilya Kretov, formerly …

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M.Video-Eldorado acquires online lending platform, aims to deploy fintech services “across the entire Russian retail market”

Russian consumer electronics major M.Video-Eldorado Group announces today the full acquisition of online lending platform Direct Credit as part of its strategy to develop its “promising fintech business.” The transaction amounted to 1.3 billion rubles (nearly $18 million at the current exchange rate). Direct Credit services will be integrated into in the group’s fast-growing OneRetail platform, both online …

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Employees of Russian e-commerce leader Wildberries denounce pay shake-up

Russian e-commerce giant Wildberries on Tuesday defended its decision to pay employees of pickup points based on their speed, a policy that triggered discontent among workers. The company owned by Russia’s richest woman Tatyana Bakalchuk is one of the largest online marketplaces in the country and has enjoyed success across the former U.S.S.R. In a …

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Western-funded KupiVIP shuts down after 13-year e-commerce story

On Sept. 1 KupiVIP, once a top Russian fashion site, and its affiliate Mamsy.ru, wound up their operations Sept. 1, unable to compete with Russia’s new generation of online retail giants. “For 13 years we made you happy with each purchase [but] our story is over now,” says a statement posted on the KupiVIP site. …

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Yandex launches grocery delivery service in Paris

Yandex, the NASDAQ-listed Russian digital giant, yesterday announced the launch of its express grocery delivery service in Paris. “Leveraging its own advanced technologies and backed by its unique and vast expertise and experience in the e-grocery market. Yango Deli has started operating with four warehouses (also known as ‘dark stores’), which will cover approximately 1 million …

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Ozon targets one-third of booming Russian e-commerce market

Ozon, Russia’s second-biggest online retailer, sees the value of merchandise sold on its platform increasing tenfold by 2026 with the company aiming for control of a third of the country’s e-commerce market.   The company is targeting annual GMV of 2.5 trillion rubles ($34 billion) in 2026, Chief Executive Officer Alexander Shulgin said in an …

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MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion

AfterOzon, Sber, Yandex and Auchan, a new big capital injection was announced earlier this week in the Russia e-commerce space. AliExpress Russia, the cross-border e-commerce leader and a major player on the domestic market, will receive $60 million from Mail.ru Group, one of its shareholders. The fresh funding will support AliExpress Russia’s “ongoing active expansion …

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Sber and Yandex invest piles of rubles in digital services and e-commerce

In the first half of this year Sber, the state-controlled financial and digital giant (previously known as Sberbank), invested some 73 billion rubles (around $1 billion) in its digital ecosystem, a company representative told business daily Vedomosti. These investments account for 11.5% of Sber’s net profit for H1 2021 (630 billion rubles).  Sber’s investments in this field are accelerating dramatically: …

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