Ulmart’s stunning growth continues unabated as sales for the first six months of 2014 were up 31% in a year-on-year comparison. Sequential quarterly growth increased by 47%.
Ulmart’s half year results put the company at just below GMV of $610 million (VAT included). The company is forecasting GMV of $1.6 billion for the whole year which would put year-end sales at 33% higher than 2013.
Ulmart’s hybrid model which allows customer access to company’s fulfillments centers (currently there are 29 in the European part of Russia) continues to be a disruptive element in e-retail. Due to the particularities of the Russian infrastructure, reliance on last-mile delivery, the obsession of so many other world e-commerce leaders, is simply not a profit-creating option in Russia.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7276256-ulmart-sales-grow-ecommerce/