"Russian Amazon" seeks Western IPO

"Russian Amazon" seeks Western IPO

Russian eCommerce giant Ulmart will launch an Western IPO next year, although it is unclear which stock exchange will be chosen. The market leader in the fast-growing Russian e-market seeks to attract at least 1 billion dollars.

Honorary title "Global Growth Company"

The company, located in Saint Petersburg, may not be as well-known over here, but its 2014 turnover of 1.3 billion dollars (1.15 billion euro) is an increase of more than 50 % compared to the previous year. Because of that achievement, the company has been given the Global Growth Company title, bestowed by the World Economic Forum to the 300 most dynamic companies in the world. 

 

The "Russian Amazon" - owned by investors August Meyer and former Russian hypermarket chain Lenta's reference shareholder, Dmitry Kostygin - hopes to expand more quickly in order to take advantage of the fast-growing Russian e-market. Ecommerce Europe has calculated that the market has grown 47 % in 2013 to 15.5 billion euro. Research firm yStats.com has estimated the Russian digital market would have nearly doubled by 2018, to 30 billion euro. Ulmart itself is currently worth 5 to 6 billion dollars, if investments banks are to be believed.

Questions or comments? Please feel free to contact the editors


Alibaba invests billions in physical retail

28/08/2017

Over the past two years, Chinese eCommerce giant Alibaba has spent nearly seven billion euro in physical retail. Its Hema Xiansheng chain already has thirteen supermarkets and it acquired luxury department store Intime from the government in January.

Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Lidl constructs new distribution center in Venlo

01/08/2017

Lidl will open a new distribution center in Venlo, which will cater its web shop’s customer base. The distribution center is not a Lidl Netherlands project, but apparently an international project.

Amazon places own pick-up lockers at consumers' homes

31/07/2017

Amazon announced The Hub, a system of pick-up lockers that can be placed everywhere. They come in different sizes and can be placed both inside or outside of buildings.

Back to top