Wildberries plans to build a $150 million warehouse in Uzbekistan
TASHKENT, UZBEKISTAN – Media OutReach Newswire – 12 June 2025 – Wildberries, a leading e-commerce platform in Eurasia, plans to spend $150 million on building a flagship warehouse in Uzbekistan to bolster the infrastructure of the country's growing e-commerce market.
The company will construct a warehouse spanning 180,000 square meters (1.9 million square feet) in the Tashkent region and has already identified a land plot for it, Robert Mirzoyan, CEO of the merged company Wildberries & Russ, said at the IV Tashkent International Investment Forum.
Over the past two years, the sales volume of Uzbekistan-based sellers on the Wildberries platform exceeded USD 1 billion, according to Mirzoyan. Deliveries of Uzbek textiles to Kyrgyzstan, Belarus, and Kazakhstan via Wildberries doubled last year, and exports of Uzbek products to Russia — the company's largest market — grew by 63%.
'Our goals in Uzbekistan are to create a full-fledged e-commerce infrastructure through logistics and fintech, unlock the country's export potential and integrate Uzbek products into global trade chains,' said Mirzoyan.
As part of its support for local sellers, Wildberries has partnered with Uzbekistan's National Agency for Prospective Projects on the launch of a 'Green Corridor' for exporters. This initiative will simplify cross-border sales for Uzbek entrepreneurs on Wildberries, which currently operates in 10 countries.
During the Tashkent International Investment Forum, the company also announced the launch of its Growth Platformin Uzbekistan, an initiative aimed at supporting and scaling up small and medium-sized businesses. Entrepreneurs will gain access to Wildberries & Russ' advanced digital advertising tools, training programs in online sales, and the company's extensive infrastructure to successfully export their products to other markets.
At the initial stage, the Growth Platform will engage approximately 100 Uzbek entrepreneurs selected in consultation with Uzbekistan's Ministry of Investment, Industry and Trade. Participants include manufacturers of clothing, home textiles, footwear, bags, cosmetics, household chemicals, and appliances. The initiative is expected to expand to include more sellers in the future.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
29 minutes ago
- Malaysian Reserve
Alibaba movie unit's pivot, rebrand bring US$2b value gain
DAMAI Entertainment Holdings, formerly Alibaba Pictures Group, is shifting its focus from movies production to faster-growing entertainment segments targeting younger consumers — and investors are taking notice. Since its May 19 earnings report, which highlighted a pivot toward IP licensing and live events, the company's shares have roughly doubled, making it the top performer on Hong Kong's Hang Seng Composite Index and adding $2 billion in market valuation. Several analysts have since upgraded their outlooks. The rebrand to Damai Entertainment, effective this month, reflects this broader focus. While its core film production business shrank, Damai still posted double-digit growth in both sales and profit for the fiscal year ended March 31 — driven by its IP merchandising and live entertainment arms. The Damai name, originally tied to its concert and event unit, now represents the company's alignment with China's 'new consumption' trend. Young consumers are increasingly drawn to tech-driven, emotionally engaging experiences, and Beijing is encouraging more spending to boost the economy. The name change and strategic shift are a 'turning point,' signaling Damai's ambition to become a more well-rounded offline entertainment provider, Citigroup analysts including Vicky Wei said in a note. The stock has already surpassed Citi's HKD$0.92 target and China International Capital Corp.'s revised HKD$0.98 target. Still, Damai remains a penny stock with notable risks. Its film and TV segment shrank 9.6% last year, and content investment remains volatile. Citi maintains a 'Buy/High Risk' rating, citing margin uncertainties. Its valuation has also become high, according to Shen Meng, a director at Beijing-based Chanson & Co. 'Short-term stock price fluctuations increase valuation risks,' he said. The stock is trading at nearly 29 times its forward earnings estimates, far above a ratio of around 10 for the Hang Seng Index, data compiled by Bloomberg show. But he believes the pivot toward younger consumers is smart: 'Young people have a longer consumption cycle.' That's already playing out. Gen Z's spending on hobby goods and celebrity merch has fueled stock surges for companies like Pop Mart International Group and Bloks Group — and now Damai. The IP merchandising unit, including the sublicensing business AliFish, partners with brands like Pokémon, Sanrio, and Chiikawa, and sublicenses them to merchants. The unit's revenue grew 73% last year. The Citigroup analysts call AliFish 'the nation's largest IP licensing agent' and 'young people's underlying supplier for IP merchandising.' Meanwhile, Damai's live entertainment business — concerts, festivals, exhibitions — saw a 236% revenue jump. It also runs a major ticketing platform and expects more growth from international concert sales. 'Entertainment in China has strong, diverse demand,' Shen said. 'If one has liked something since childhood, they will basically always like it.' –BLOOMBERG
New Straits Times
34 minutes ago
- New Straits Times
Singapore Airlines' Scoot to take over Jetstar routes
SINGAPORE: Flag carrier Singapore Airlines' budget arm, Scoot, will take over some of the routes run by Qantas Airways' Jetstar Asia, which announced this week that it would close, a Singapore Airlines spokesperson said on Friday. Qantas announced on Wednesday that it will close its Singapore-based budget subsidiary on July 31, citing rising supplier costs, high airport fees and strong regional competition. Subject to regulatory approval and talks with partners, Scoot will launch new flights from Singapore to Japan's Okinawa and Labuan Bajo in Indonesia, the spokesperson said. Both routes were exclusively operated by Jetstar Asia. Singapore Airlines will also ramp up flights to other affected routes, including ones from Singapore to Manila, Colombo and Jakarta. Full flight schedules will be made public in due course, the spokesperson said. Singapore Airlines previously said that it had set up channels for Jetstar Asia staff to expedite applications for jobs within the airline group.
New Straits Times
an hour ago
- New Straits Times
Palm rises on crude and rival oils; set for first weekly loss in five
JAKARTA: Malaysian palm oil futures traded higher on Friday, tracking soaring crude oil prices and rival edible oils in Dalian and Chicago amid geopolitical concerns, but the market was headed to snap a four-week streak of gains. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained RM76, or 1.98 per cent, to RM3,915 (US$921.50) a metric ton by the midday break. The contract has lost slightly 0.05 per cent so far this week. "Today's market is reacting towards Israel's bombing of Iran, resulting in the rise of crude oil," a Kuala Lumpur-based trader said. Oil prices surged more than 9 per cent on Friday, hitting an almost five-month high after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Dalian's most-active soyoil contract rose 1.4 per cent, while its palm oil contract gained 2.12 per cent. Soyoil on the Chicago Board of Trade (CBOT) added 1.43 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. India's palm oil imports in May rose about 84 per cent month-on-month to 592,888 metric tons, a trade body said on Thursday. Malaysian ringgit, the palm's currency of trade, strengthened 0.75 per cent against the US dollar, making the contract more expensive for holders of foreign currencies. Palm oil may break resistance at RM3,927 per ton and rise toward the RM3,962-RM3,998 range, according to Reuters' technical analyst Wang Tao.
