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Olga PopovaAlexander Marrow
3 minute read
A view shows the pick-up point of the Ozon online retailer in Moscow, Russia March 16, 2020. REUTERS/Evgenia Novozhenina
Ozon (OZON.O) wants to achieve online transaction volumes of around $34 billion in five years and a third of Russia s rapidly expanding e-commerce market, its chief operating officer told Reuters.
One of Russia s largest e-commerce players, Ozon last week reported a sixth consecutive quarter of triple-digit gross merchandise volume (GMV) growth and upped its GMV growth target for 2021 to 100% from 90%.
A $1 billion Nasdaq debut last year has allowed Ozon to become slightly more aggressive in some segments, such as IT development and logistics infrastructure, where it sees no risk of over-investment, its COO Daniil Fedorov said.