Yoox launches in Russia with the ruble

By

Dominique Muret

Published
Oct 21, 2013

After dollars, pounds, euros, yen and yuans, online retailer Yoox has now made its site available in rubles. The move comes as the retailer works towards supporting 10 different currencies before 2014 and goes to reinforce the company’s presence in Russia, a country where it has been present since 2006. Currently, yoox.com, thecorner.com, shoescribe.com and various branded sites operated by Yoox are available in the country.

Highly requested by YOOX’s Russian customers, the introduction of the Ruble starts on the multi-brand online store yoox.com is a new milestone in the group’s Russian localization strategy, which aims at offering Russian customers a fully localized shopping experience and excellent service.

According to a study conducted by ComScore and Morgan Stanley, growth potential for e-commerce in Russia is vast with Russia’s online population being the largest in Europe. Some 48 per cent of the country's online shoppers only became active over the last two years, a demonstration of the potential future purchasing power of Russian web users. E-commerce sales are expected to triple in volume by 2015 to $36 billion, up from $12 billion in 2012 with online purchases making up 4.5% of all retail sales by 2015.