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.
OR Group, owner of rising Russian e-commerce marketplace Westfalika, reported consolidated unaudited revenues of 4.4 billion roubles ($60.1 million) in the first half of 2021, a year-on-year increase of 11.7 percent.
Westfalika was the group’s key driver of growth. Its sales in the first six months of the year increased by 2.6 times, compared to the same period in 2020.
OR Group was founded in 2003 in Novosibirsk and was formerly known as Obuv Rossii before changing its name at the end of 2020. As well as 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 around Russia.
The company has said it expects e-commerce sales to make up 30 percent of its total revenues by the end of this year and has inked deals with e-commerce giants such as Wildberries and AliExpress, as well as developing its own e-commerce, in order to reach new customers.
ADVERTISEMENT
Learn more:
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 market has many challenges.
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.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.