E-Commerce

Baring Vostok invests $6 million in high-tech travel booking platform

July 22, 2021

Level.Travel, a Russian platform for searching and booking tours online, has raised $6 million from Moscow-based PE/VC giant Baring Vostok, in exchange for a minority stake. Previous investor Guard Capital, a Moscow-based VC, is keeping its stake in the company’s capital. No further details of the deal were disclosed. Founded ten years ago by Dmitry Malyutin, Ellin …

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Glorious story but modest exit for online fashion pioneer KupiVIP

July 9, 2021

Update July 9: Yandex announced the cancellation of the deal, for undisclosed reasons, according to media reports. The company is considering “other options to enter the fashion segment.” Yandex.Market is in the process of acquiring KupiVIP, one of the most established e-commerce brands in Russia, founded back in 2008 by German entrepreneur Oskar Hartmann. Also …

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Wildberries launches cross-border sales to Russian consumers

June 29, 2021

Russia’s largest online retailer Wildberries has launched direct cross-border sales from Belarus, Kazakhstan and China to Russian consumers, the company announced on June 23, presenting the move as a pilot project.   Cross-border delivery of goods will be carried out both by Wildberries’ own logistics service (for example, in Belarus and Kazakhstan) and via international logistics partners (in …

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M.Video uses high tech to automate CRM, raise service level and track employee attendance

June 29, 2021

M.Video, a part of the M.Video–Eldorado consumer electronics retail group, now processes nearly half of customer calls via a virtual assistant called ‘Alyona.’  “Voice processing technologies have enabled [us] to reduce the workload of [our] contact center staff, reduce response times and increase customer satisfaction and loyalty,” the company says.  The AI-based robotic customer support system …

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Otto Group’s myToys shuts downs in Russia after 10 years of activity

June 28, 2021

myToys, an online retailer of children’s goods owned by Otto Group, ceased its activity earlier this month in Russia after more than 10 years of operations on the market.  In recent years, myToys.ru was among Russia’s leading e-commerce sites in its category.  However, according to official data cited by Retailer.ru, the site’s net loss jumped from 34.8 million rubles in 2019 (around …

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Auchan plans to spend more than $277 million on developing digital service in Russia

June 16, 2021

French retailer Auchan plans to spend more than 20 billion roubles ($277 million) on developing digital services in Russia by 2024 to boost online sales, the company’s country head said. Auchan has faced increased competition from fast-expanding Russian retailers and online delivery firms, including Magnit (MGNT.MM) and Lenta .  Auchan, which started to expand its online delivery …

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Russian-born social commerce major Ecwid sold to Canadian Lightspeed for $500 million

June 9, 2021

After Veeam Software, Wrike and Magic Lab — to cite just a few recent examples — this is yet another happy exit for a Russian entrepreneur established in the West. Ecwid, a Russian-rooted provider of social commerce solutions for small businesses, is in the process of being acquired by Canadian Lightspeed. This Toronto-listed online and offline retail software major says it is buying …

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AliExpress now helps Russian brands sell globally

June 1, 2021

Bringing its contribution to Russia’s emerging outbound cross-border sales, AliExpress Russia announced today the launch of Ruzania, a section of its international platform reserved for select Russian sellers. The first offers come from Maskbro (wooden toys), Bossa Nova and Lucky Child (children’s apparel). Items from these Russian brands can be purchased “not only by Russian-speaking users, but …

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In 2020, Russian e-commerce recorded one of the world’s highest growth rates

June 7, 2021

Specialized research agency Data Insight has just released the international version of its Russian e-commerce report for 2020. Domestic sales of physical goods amounted to 2.7 trillion rubles (some $37 billion at the average exchange rate of the year), up 58% from 2019 — placing Russia among the world’s fastest-growing e-commerce markets. Several segments recorded …

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X5 pursues innovation path through dark kitchens, freshness sensors and facial recognition payments

April 16, 2021

X5 Retail Group, a leading Russian food retailer listed on the Moscow and London stock exchanges, has acquired a dark kitchen company called Mnogo Lososya (‘A Lot of Salmon’). The group’s head Igor Shekhterman revealed the transaction earlier this week in a media interview, without providing any financial details.  “While we see great potential in this business, we didn’t have …

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Russian e-commerce leader makes first steps on US market

May 12, 2021

Wildberries, the number one Russian e-commerce company, is making its first steps on the US market with dedicated versions of its website and mobile app. The site’s URL, us.wildberries.ru, betrays its Russian origin, while no US suppliers have been onboarded for the moment, as reported by Kommersant.  Deliveries will be carried out from Russian warehouses with the help …

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