![]() This information is used to compile reports and help us to improve the site. Analytical / Navigation Cookies : These cookies enable the site to function correctly and are used to gather information about how visitors use the site.Functionality Cookies: These are used to allow the website to remember choices you make (such as your language) and provide enhanced features to improve your web experience.Strictly Necessary Cookies : These are essential in order to enable you to use certain features of the website, such as submitting forms on the website.The types of cookies used on this Site can be classified into one of three categories: It is recommended that you leave on all cookies if you are not sure whether you need them or not, in case they are used to provide a service that you use. Unfortunately, in most cases, there are no industry standard options for disabling cookies without completely disabling the functionality and features they add to the site. We use cookies for a variety of reasons detailed below. We will also share how you can prevent these cookies from being stored however this may downgrade or ‘break’ certain elements of the Site’s functionality. This document describes what information they gather, how we use it, and why we sometimes need to store these cookies. “We want to strengthen our work with local entrepreneurs.” “There is a need to carry out more intensive work on existing projects,” Bakalchuk, who Forbes estimates holds assets worth $13 billion, said. E-commerce penetration in Russia, where logistics and poor infrastructure pose big challenges, has been growing fast of late but is still much lower compared to markets such as Britain or the United States. It also plans to expand its logistics network in Kazakhstan, Armenia and Belarus, and to at some point enter Uzbekistan – “a very promising market”.īuilding up at home is also a focus. ![]() Present in 19 countries, with Britain just added, it aims to expand into two more next month, she said. Debt stands at 35 billion roubles.īakalchuk declined to be drawn on the threat from competition, saying on the firm was “constantly competing with ourselves”. In 2021 it expects an almost fivefold jump in net profit to 10 billion roubles ($136 million) from 2.1 billion roubles in 2020, Bakalchuk said, and a rise in gross merchandise volume to more than 800 billion roubles, a record level. With almost one in three Russians using its service, Wildberries is still the clear market leader, pulling in more than double the sales of its nearest rival Ozon last year, according to Statista. ![]() The strategy is in sharp contrast to peer Ozon (OZON.O), which debuted on the US Nasdaq last year, and other big Russian tech firms like Yandex (YNDX.O). If there is a ghostly hope for the IPO… then attracting an investor is definitely a no,” Bakalchuk, who owns 99 per cent of the company, said. The retailer, which started out as an online platform reselling clothes from the likes of German mail order group Otto and now supplies everything from electronics to kitchenware, is even less likely to part with a stake to a strategic investor, she said. “Everything can happen in this life, but this is not yet in our strategy.” They believe that in two years, most likely, this euphoria will pass,” Bakalchuk said. “Banks that come to us say – please, understand that now is the most favourable time for an IPO, because this will be the cheapest money raised.
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