Vladislav Bakalchuk announced the fall in market share of Wildberries after “the raiders put their people in charge.” The husband of the founder of the exchange criticized the financial decisions of the new managers.
Author:
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According to Vladislav Bakalchuk, Wildberries was the market leader for the past four years, ahead of its main competitor in terms of turnover by 60%.
After merging the market with the outdoor advertising operator Russ, the company, according to Bakalchuk, increased advertising costs tenfold. According to him, the costs amount to 1.5 billion rubles a month.
“The amount exceeds the expenses of the previous 6 months. But, as practice shows, such investments did not bring the expected results and the effect of them was practically zero,” Bakalchuk wrote on his Telegram channel.
He also expressed concern that with the current approach, the market could quickly lose its leading position.
- Vladislav Bakalchuk, owner of 1% of Wildberries LLC, opposed the merger of Wildberries and Russ, noting that “the company’s assets are being taken away for next to nothing.”
- In this he was supported by Chechen leader Ramzan Kadyrov and businessman Timur Yunusov (Timati). Both described the merger of companies as a “takeover by a raider.”
- The day before, on August 20, it became known that Bakalchuk had filed an application to register the trademark “VB”, thus trying to protect the domain name wb.ru.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
