East-West Digital News 20 Mar 2012
The shareholders of KupiVip.ru, Russia’s leading fashion flash sales site, intend to invest no less than $50 million in Shoptime.ru, an online fashion items and accessories retailer that launched in test mode earlier this year.
In contrast to the discounted flash sales model used by KupiVip.ru, this new site offers a permanent assortment of new collections from renowned brands without discounts.
The project’s initiators expect Shoptime.ru to attract half a million customers by the end of 2012 and to surpass KupiVip’s 8 million customer base within three years, KupiVip founder and CEO Oskar Hartmann said in exchanges with Russian business daily Kommersant as well as with East-West Digital News.