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Files under: News
Posted by: Quintura @ 13:23 [22. 06. 09]
 Direct Group, which recently sold its Russian mail order business Na Dom to Otto Group of Germany, has invested an undisclosed amount in exchange for a minority stake in online shopping club KupiVIP.ru, according to KupiVIP.ru CEO Oskar Hartmann. KupiVIP.ru investor Nikolay Mitushin of ABRT Fund confirmed the investment.
As part of the deal, Direct Group CEO Pascal Clément will join KupiVIP.ru’s Board. Direct Group, which sold a majority stake in “Russia’s Amazon” Ozon.ru to Baring Vostok Capital Partners in late 2006, shall bring its expertise in distance selling and logistics to KupiVIP.ru.
The Russian designer clothes, shoes and accessories market is valued at $5 billion per year, of which KupiVIP.ru aims to capture 3 percent over the next few years and reach annual sales of $150 million.
Founded in 2008, KupiVIP.ru previously raised funding from Mangrove Capital Partners, Arlan and ABRT Fund. The online shopping club has more than 500,000 registered users. Its current monthly sales exceed $1 million.
Founded in 1996, Direct Group is a leader in market expansion services in Russia. It owns a majority stake in leading Russian women-centric site WomanJournal.ru, which raised EUR 6 million from French VC investors last summer.
Tags: ABRT Fund, Direct Group, Direct Group KupiVIP, Direct Group KupiVIP.ru, KupiVIP, Nikolay Mitushin, online shopping club Russia, Oskar Hartmann, Pascal Clement, Russian online shopping
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