Tuesday, November 28, 2023

Russian retailer Wildberries to launch own brand home goods

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MOSCOW, March 21 (Reuters) – Russian online retailer Wildberries said on Tuesday it was launching its own brand of home appliances, the latest company to offer domestic goods as Western players leave the market.

The new product line, sold under the “Razz” and “Ruzz” labels, will include items such as refrigerators and washing machines and they will be assembled in Russia, China and Belarus, it said.

Since Russia sent tens of thousands of troops into Ukraine last year, dozens of Western firms have left the Russian market, in part due to tough economic sanctions.

Rival retailers such as Ozon and shopping platform Yandex.Market have already launched their own product lines as they aim to capitalise on departing foreign brands.

Reporting by Reuters, Writing by Caleb Davis
Editing by Gareth Jones

Our Standards: The Thomson Reuters Trust Principles.

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