Russian Zappos clone raises $5m in second funding round

Next Story

Broadvision Launches Clearvale 2.0

Online footwear store, which is essentially a Zappos clone, has raised $5m in a second round of funding from eVenture Capital Partners, Kinnevik and Fast Lane Ventures, all three of whom are previous backers.

The Russian startup, which was launched only as far back as June 2010, intends to use the funds to “increase assortment” and to improve its customer service in a bid to emulate Zappos, along with launching an “aggressive” marketing campaign. The footwear market in Russia is estimated to be worth over $15 billion, although this is currently almost entirely offline.

“Online footwear shopping market is still immature but has a lot of potential. We are glad that thanks to the partners of we can make the first and the best online footwear store in Russia.” comments CEO Matthieu Lannegrand.

Sapato stocks more than 3,000 models of shoe from 100 world-known brands but in 2011 aims to increase this to 10,000 models of men, women and kids footwear.

  • Jonathan Fianu

    Its great to hear about different Russian companies and projects raising funding, but its a shame that the majority are clones of US or European products and ideas. It would be nice to see some more innovation in the Russian tech sector, but I think this will come over time. Best of luck to them!

  • Zalando-Export geht weiter: Rocket startet Ableger in Brasilien und Russland ::

    […] stieg mit eVenture auch Zalando-Gesellschafter Kinnevik im vergangenen Jahr bei Sapato ein. Somit ist der […]

blog comments powered by Disqus