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44% revenue jump for Russia's #1 online retailer Ulmart

0 11 April 2014

Ulmart, Russia’s top online retailer by revenue, has further cemented its position at the top of the Russian e-commerce pile. In the first quarter of 2014 revenue was 44.3% higher than in the same period last year, beating the company’s own forecast.

Ulmart managed to achieve revenue growth despite a 4% fall in the average purchase thanks to a 46% increase in sales - which numbered almost 3 million. This growth was made possible by the company’s diversification of its catalogue, which has also made the firm more profitable. 

By the end of this year Ulmart is aiming to increase the number of products it offers from 63,000 to 85,000. In doing so, it plans to branch out from electronics and sell more children’s goods, car products, tyres, household goods and DIY products. While computer-related products remain the firm’s mainstay, this ongoing diversification reduced their share of total sales by 6% compared to the same period last year. 

Ulmart’s owners are currently looking to sell a 10-15% stake in the company and are in discussions with investors from around the world.  

Source: CNews

Top image via Shutterstock

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