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

    Thursday, March 26th, 2009

    Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → 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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