Russia's Ozon to open China office to boost cross-border sales

Ozon Holdings

21/11/2022 06:37

LONDON, Nov 21 (Reuters) - Russian online retailer Ozon
Holdings  OZON.O  said on Monday it was opening an office in
Shenzhen in China to boost cross-border sales to Russian
shoppers on its platform.
    Russian companies have been rapidly boosting business ties
with China as firms grapple with unprecedented Western
sanctions.
    It follows a similar move into Turkey earlier this year by
the e-commerce outfit, and comes at time when the Russian
economy is trying to pivot away from Western markets and forge
new supply chains with the likes of China, Turkey and Iran.
    Ozon said in a statement it already had 10,000 Chinese
sellers offering goods to Russian customers on its marketplace,
with China accounting for 95% of sales through its cross-border
sales unit, Ozon Global.
    "Chinese products are in high demand in Russia," Ozon said,
adding that, "the most popular orders from China are usually
electronics - smartphones, laptops and computer parts - as well
as small appliances and clothing."
    It, however, did not specify when will the office be fully
operational.
    Many major Western consumer brands stopped sales in Russia
after Moscow invaded Ukraine in February, and Chinese brands
including Huawei and Xiaomi have gained ground in the Russian
market this year.
    Last week, Ozon reported a 48% jump in third-quarter total
revenue to 61.5 billion roubles ($1.01 billion).
($1 = 60.62 roubles)
 (Reporting by Reuters)