Alexander Shulgin said he wanted Ozon to grow “organically” by selling more services as it grows its own capabilities, including offering its logistics and fulﬁlment centres for use outside its ecommerce platform © Alamy
The investments mean Ozon is likely to remain lossmaking for a few more years,
Shulgin said. Even though Ozon’s revenues grew 74 per cent year-on-year in 2020 to Rbs104bn, operating expenses rose by 55 per cent in that period to Rbs122bn, contributing to a loss of Rbs11.7bn on the year.
As Wildberries remains solely owned by its founder Tatyana Bakalchuk, Ozon’s IPO made it the only pure ecommerce player available to investors.
Shulgin said he wanted Ozon to grow “organically” by selling more services as it grows its own capabilities, including offering its logistics and fulfilment centres for use outside its ecommerce platform, as well as offering its sellers advertising.
To do that, he added, the company will use its investment to double down on scale. “Why did we survive Covid and attract so many customers? Because we had more
warehouses, more couriers, and more pick-up points. And all that infrastructure was able to absorb the demand,” he added.
Original article: https://www.ft.com/content/e6ec09c4-646a-44e6-8fe8-2a33605bfdbc