Wildberries

Wildberries (Russian: ООО «Вайлдберриз») is the largest Russian online retailer. The company was founded in 2004 by Tatyana Bakalchuk.[2] Bakalchuk started the business in 2004 at age 28 in her Moscow apartment while on maternity leave from teaching. She realized how difficult it was for her and other young mothers to shop for clothes for themselves with a newborn at home. Her husband, Vladislav, an IT technician, soon joined her to help build the business.[3]

In 2019 Wildberries had revenues for $3 billion with net profit increasing from Rbs1.88bn to Rbs7bn, confirming Wildberries’ leading role in the Russia’s fast-growing $30bn ecommerce market.[4] In 2020 Wildberries works in 7 countries: Poland, Slovakia, Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia, with more than 48,000 employees.[4] Wildberries sells 37,000 brands of clothing, shoes, cosmetics, household products, children goods, electronics, books, jewelry, food and much more. The company processed 750,000 orders[4] on average a day online.

In January 2020 Wildberries started work in the European Union with the launch of sales in Poland. It plans to open about 100 order distribution units in Poland and has opened the first in Warsaw.[5]

The company managed to expand in the aftermath of the 2008 financial crisis, as foreign companies sought to offload their excess inventory at a steep discount.

In 2017 Wildberries became Russia's largest online retailer, surpassing Ulmart.[6] The company, originally based in Milkovo, Moscow Oblast, relocated to Moscow in 2018.[6]

In 2018, Wildberries pulled in $1.9 billion in sales and attracted 2 million daily visitors.[7] Based on Forbes’ analysis, Bakalchuk is worth approximately $1 billion in 2019.[8]

Forbes Magazine included Bakalchuk to the list "The 10 Most Notable New Billionaires Of 2019"[3]

At the end of the "pandemic" 2020, the company reported an increase in sales volumes almost doubled - up to $ 6 billion. About $305 million are accounted for overseas markets.[9]

In February 2021, Bakalchuk bought a small Russian bank Standard Credit (official site). The bank's capital is 302 million rubles, the purchase price is unknown. In Wildberries the bank will be used for settlements with suppliers and for servicing consumer services.[10]

In April 2021 Wildberries launched an online store in the United States.[9]

Since June 2021, Wildberries has started online sales by instalment and on credit in Russia.[11]

In July 2021, Ukraine imposed sanctions against Wildberries and its owner Tatyana Bakalchuk. Trade in military uniforms and Russian books was named as the reason.[12] The company said it didn't have assets in Ukraine or capital, so sanctions wouldn't harm Wildberries, but only Ukrainian entrepreneurs using its platform. Wildberries told that it sold goods that other foreign players sold in Ukraine. Wildberries accused Ukraine of double standards and discrimination of business. The company's speaker Wildberries didn't expect harm to the company.[13]