MOSCOW--(BUSINESS WIRE)--Fast Lane Ventures, the leading developer of Internet companies in the fast growing Russian Internet market, is pleased to announce the sale of Sapato.ru, Russia’s principal online shoe and accessories retailer, to Russian online store OZON Group.
The 100% sale of Sapato.ru to OZON is a mutually beneficial transaction for both parties validating Fast Lane Ventures’ strategic focus on developing web projects based on internationally proven models to capitalize on the significant opportunities within the Russian Internet sector.
Fast Lane Ventures CEO, Marina Treshchova, said the acquisition of Sapato.ru represents the first sale from Fast Lane Ventures’ portfolio of web companies.
“Sapato.ru was the first online business founded by Fast Lane Ventures. The company has demonstrated dynamic growth over the last two years and captured significant market share to develop into a leading online retailer in Russia,” said Ms Treshchova.
Since its launch just 18 months ago, Sapato.ru has recorded 2.5 million visitors per month and is the third most recognised online retailer in Russia. The online shoe retailer’s success clearly reflects upward trend of Russians buying online, with more than seven million Russians making online purchases in 2011.
Andreas Haug, the Managing Partner of eVenture Capital Partners, who invested in Sapato.ru said the online retail website was a remarkable example of efficient execution and the entrepreneurial spirit of its founders who adopted a global e-commerce business model very successfully to the emerging Russian internet market.
“It is impressive to see that Fast Lane Ventures has launched 15 fast growing internet companies in less than two years. What is more impressive is that quite a few of the companies are already market leaders or on their way to a market leading position in their segments,” Mr Haug said.
Sapato.ru CEO, Matthieu Lannegrand, said that Sapato.ru’s established, loyal and active customer base and strong brand recognition were key deciding factors behind OZON’s acquisition.
“We have worked hard to master the art of online fashion retail, and our expansive and loyal customer base speaks for itself. This is a result of efforts made by our team and its firm commitment to quality and success,” Mr Lannegrand said.
The terms of the Sapato.ru sale were undisclosed and the transaction completed on February 15.
Fast Lane Ventures is the leading developer of internet companies in the high growth Russian internet market acting as both an investor and operational partner assisting with management and promotion of its portfolio companies after their launch. http://fastlaneventures.ru/en/