Wildberries enters Chinese market: How will this affect the Russian market?

Wildberries has entered the Chinese market, as reported by the founder and owner of the marketplace, Tatyana Bakalchuk, to RBK.

"Now we are starting to work with manufacturers and sellers from China—they will directly supply their products to our platform for all countries in our presence," Bakalchuk said, adding that Russian business remains a priority and will not be affected by this initiative.

Currently, the company's overseas activities account for about 10% of the total turnover, with the rest coming from Russia.

Plans for Wildberries to enter the Chinese market were announced earlier in the summer. The company filed applications for registration in Singapore, Thailand, India, Japan, Vietnam, Malaysia, Indonesia, the Philippines, Mongolia, Afghanistan, and North Korea.

As of now, Wildberries operates in Russia, Belarus, Armenia, Kazakhstan, Uzbekistan, Kyrgyzstan, Israel, and Azerbaijan. The company used to operate in the United States, Germany, France, the United Kingdom, Italy, and Spain, but it withdrew from these markets after February 2022.

Wildberries is the largest Russian marketplace. In the first half of this year, the turnover from the sale of goods and services increased by almost 100%, reaching 1.22 trillion rubles.