Europeans still shopping as Russia's KupiVIP raises another $8m

Thursday, March 26th, 2009

Mike Butcher is a journalist, broadcaster and commentator. He is firstly editor of TechCrunch Europe, but has also co-founded TechHub.com and Coadec.com in Europe as ventures to support the tech startup eco-system. A long time journalist, Mike has written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman.... → Learn More

Online shopping clubs along the lines of Vente Privee (which started in France) and Brands For Friends in Germany are spreading like wildfire across Europe – and no wonder. They are business models tailor-made for the recession, offering big discounts on designer goods among almost guaranteed buyers. They hit revenue almost from the word go and the jungle drums tell me that Vente-Privee is on course to deliver hundreds of millions in revenue this year alone. Now Russia’s KupiVIP is set to accelerate with a new injection of cash.

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