The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The turnover of online retailer, AliExpress Russia, grew 36 percent in the first half of 2021, compared to the same period last year, reaching 133.3 billion roubles ($1.8 billion).
This elevates AliExpress Russia to one of the three biggest e-commerce companies in Russia by turnover volume. Though the company’s first half net losses also widened significantly to almost a billion roubles (around $13 million) against 533 million roubles ($7.2 million) for the same period in 2020.
The platform’s number of active customers over the year grew to 27.9 million people and AliExpress Russia now boasts more than 20,000 pick-up points across Russia.
AliExpress Russia was created in October 2019 as a joint venture of the Chinese Alibaba Group, Russian telecom company MegaFon, Internet giant Mail.ru Group and the Russian Direct Investment Fund (RDIF).
Learn more:
AliExpress Russia Prepares for 2022 IPO
AliExpress Russia is considering going public in 2022, Tatiana Volochkovich, Investor Relations Director of Mail.ru Group, announced during the Mail.ru Group webinar Sources of Growth and Strategic Goals.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.