Russia’s Melon Fashion Group Revenue Reaches $342 Million in 2020

Russia’s Melon Fashion Group Revenue Reaches $342 Million in 2020

A Love Republic store in Saint Petersburg. Shutterstock

The Saint Petersburg-based fashion conglomerate, known for a stable of brands that includes Zarina, Befree, Love Republic and Sela, increased its revenue by 9.7 percent to 25.2 billion roubles ($342 million) in 2020, year-on-year. Net profit also rose, to 1.7 billion roubles ($23 million) over the same period.

Online retail was boosted last year by pandemic-driven demand, and Melon’s revenues from online grew 112 percent for sales through its own channels, and 75 percent for sales via partner platforms.

Online now accounts for 34 percent of total group sales. Major platforms Wildberries and Lamoda both identified Melon Fashion Group brands as among the top three fashion category sellers on their sites last year.

Despite the pandemic, the company also opened 72 new physical stores to reach 809 shops in total across Russia.

The company has also indicated its intention to increase clothing production by about 30 percent over the next 12 months, which would represent a return to pre-pandemic capacities.

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