Fashion

Russian Online Retailer Westfalika Sees Q1 Revenue Grow 382%

A screenshot from the homepage of Westfalika.ru. Westfalika.ru

Online marketplace Westfalika.ru announced in a recent quarterly earnings report that its revenue grew 382 percent to 370 million roubles ($500,000) in 2021′s first quarter, compared to the same period last year.

The emerging e-commerce platform belongs to OR Group (formerly known as Obuv Rossii), based in Novosibirsk, which is also the parent company of several fashion brands, including Westfalika, Peshechod, Emilia Estra, Rossita and Lisette.

In total, OR Group’s revenue decreased by 15 percent in its first quarter, compared to the same period last year, to 2.3 billion roubles ($30 million), a fall it attributed to the impact of the pandemic. The company has a brick and mortar network of more than 830 stores in 333 Russian cities and is now focused on further developing its online retail reach.

OR Group said it expects e-commerce sales to make up 30 percent of its total revenue by the end of this year and has inked deals with e-commerce giants like Wildberries and AliExpress, as well as developing its own e-commerce, in order to reach new customers.

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