Russian E-Commerce Leader Ozon Reported Strong Q1 Results
Ozon Holdings PLC (Nasdaq:OZON) (“Ozon”), a leading Russian multi-category e-commerce platform, just announced its strong unaudited financial results for the first quarter. Ozon had a fantastic start to the year with 135% GMV growth YoY in Q1, marking the sixth quarter in a row with GMV growth exceeding 100%. Over the quarter, the number of orders increased 161% YoY to 34.1 million, compared to 13.1 million over the same period last year.
The COVID-19 pandemic helped to accelerate the growth of online business. Ozon’s business was in a rapid expansion mode at the time when the pandemic hit, which promoted sellers’ migration to the Ozon platform and buyers’ adopting new ways of online shopping.
Ozon strives to leverage technologies, logistics and innovations in order to stay one step ahead of customers’ needs. By seamlessly connecting people and products within an ecosystem comprising multinational suppliers and small local businesses, Ozon creates exceptional shopping and business opportunities for people in Russia regardless of locations. The speedy shift from offline to online business activities, coupled with a huge population and strong macroeconomic fundamentals, are the key pillars to the exponential growth of Russia’s e-commerce market.
Ozon started trading on Nasdaq on 25 November 2020 at USD 30/share. As of 18 May 2021, its share price rose to 1.7 times at USD 51.71/share.
Princeville Global, VMS’s strategic partner, has invested in Ozon since August 2019. Together with Princeville Global, we are committed to supporting distinctive companies such as Ozon as they grow. VMS is pleased to have participated in this global affiliate network to capture the best-in-class opportunities in high growth sectors and markets.
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