The Russian OR group sees its turnover increase by almost 12% in the first half of the year

0

A screenshot of the homepage of Westfalika.ru. Westfalika.ru

OR Group, owner of growing Russian e-commerce market Westfalika, reported unaudited consolidated revenue of 4.4 billion rubles ($ 60.1 million) in the first half of 2021, an increase of 11.7% year-on-year.

Westfalika has been the main growth engine of the group. Its sales in the first six months of the year have increased 2.6 times compared to the same period in 2020.

OR Group was founded in 2003 in Novosibirsk and was previously called Obuv Rossii before changing its name at the end of 2020. In addition to the Westfalika platform, the company also owns several fashion brands, including Westfalika, Peshechod, Emilia Estra, Rossita and Lisette. It operates a total of 805 stores in 319 cities in Russia.

The company said it expects e-commerce sales to account for 30% of its total revenue by the end of this year and has made deals with e-commerce giants such as Wildberries and AliExpress, as well as the development of its own electronic commerce, in order to reach new customers.

Learn more:

How to further capture Russia’s e-commerce market

With Wildberries racing to become Russia’s answer to Amazon, many brands are turning to dedicated fashion platforms like Lamoda.ru and Aizel.ru, but the market faces many challenges.


Source link

Share.

About Author

Leave A Reply