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 Saint Petersburg-based fashion conglomerate, known for a stable of brands that includes Zarina, Befree, Love Republic and Sela, increased its revenue by 66 percent year-on-year to 28.3 billion roubles ($380 million) in the first nine months of 2021. Its revenue this year has already exceeded 2020 full-year revenue, the company said in a statement.
Online sales grew 46.1 percent to 8.7 billion roubles ($117 million) through Melon’s own channels and also collaborations with major e-commerce platforms, including Wildberries and Lamoda.
Throughout the pandemic period, the company has been reworking its physical retail network, closing 61 underperforming stores but opening 67 new locations, and now boasts a total of 815 stores.
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How to Capture More of Russia’s E-Commerce Market
With Wildberries racing to become Russia’s answer to Amazon, many brands are turning to devoted fashion platforms like Lamoda.ru and Aizel.ru but the local e-commerce market poses many challenges.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.