Support The Moscow Times!

Gucci Invests in Russian Online Retailer

French multinational PPR, which owns the Gucci, Yves Saint Laurent, Puma and Volcom brands, is investing in one of the most rapidly developing segments of the Russian online marketplace — clothing retail.

The group acquired a stake in Bigfoot I, which owns Russian online retailer and its South American counterpart Dafiti, for 10 million euros ($13 million), PPR spokeswoman Yelena Saint-Raymond told Vedomosti.

"PPR believes in the high potential of the investment in a company operating on a fast growing market," she said, declining to comment further. A source close to the founders of confirmed the transaction and said an official announcement should be made next week.

Funds from the PPR investment will be used for expanding the brand portfolio and geographic presence, as well as for improving logistics, said a source at The site has about 14 million visitors a month, the source said.

Sales data for the online store are not publicized. But according to available information, with 500,000 regular customers and an estimated average sale of 120 euros, turnover could be 60 million euros. was created by German startup incubator Rocket Internet and sells clothing, footwear and accessories. The website was not in the top-five list for Internet revenue last year, said InSales CEO Timofei Gorshkov.

Gorshkov estimated that last year's list was topped by Quelle with 2.5 billion rubles ($79 million) in turnover, followed by KupiVIP with 2.3 billion rubles, Wildberries with 2.3 billion rubles, Otto with 1.7 billion rubles and Laredoute with 1.3 billion rubles.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more