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Wildberries, Russia's Answer To Amazon, Launches US Sales

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Wildberries, Russia's Answer To Amazon, Launches US Sales

Wildberries, Russia's largest online retailer, has launched in the U.S. market.

From A Flat To An Empire: Wildberries launched in 2004 on a $700 start-up budget in the Moscow apartment of 28-year-old Tatyana Bakalchuk, a teacher who was on maternity leave. Bakalchuk grew the company, becoming Russia's first female billionaire, with an estimated net worth of $13.1 billion.

Over the years, Wildberries expanded its international reach to include Armenia, France, Germany, Israel, Poland, Slovakia, Spain and Ukraine.

In February, the company acquired the Standard-Credit Bank, a small Russian financial services institution, for an undisclosed sum. The company said the acquisition is "further develop the existing payment service, as well as generally improve the quality of service for buyers and sellers."

Coming To America: The U.S. is the 14th nation and the first in the Western Hemisphere where Wildberries is doing business.

In 2020, Wildberries' sales outside of Russia totaled approximately $305.9 million, a 95% year-over-year increase, while total sales were $6 billion, a 96% year-over-year spike.

In comparison, Amazon.com Inc. (NASDAQ: AMZN) concluded its 2020 fiscal year with $386.1 billion in net sales, a 38% year-over-year increase.

The Wildberries website is available in English and Russian and offers U.S. consumers a selection of 5.5 million merchandise offerings from 40,500 brands covering clothing, footwear and accessories, beauty products, toys, electronics, books and stationery, sporting goods and household items.

"Our online platform brings together entrepreneurs and retailers from different countries — Russia, Germany, France, Poland, and many others — and we are open to expanding cooperation with American entrepreneurs, including small and medium-sized businesses whose products are already represented in many Wildberries countries," said Vyacheslav Ivashchenko, development director at Wildberries.

Photo courtesy of Wildberries.

 

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