In what is being talked about as the hottest news in Russian web company investment circles, online clothing retailer shoptime.ru has just received a USD 50 mln stamp of approval from its rival, KupiVIP. Shoptime.ru’s no-discount sales model that offers a permanent line of new apparel from popular brands contrasts with KupiVIP’s flash sales retail model that offers discounted rates. Shoptime.ru was launched earlier this year in test mode; in three years, its customer base is expected to exceed 8 million, which is KupiVIP’s current customer count.
Shoptime.ru is a Russian online retail clothing store that offers its customers constantly updated collections from premium, established brands. The company was launched early this year on testing mode and is expected to garner at least half a million customers in the next 9 months. Russia’s online retail industry is currently worth over USD 10 bln (2011 figures).