The wild history of the Russian online retail giant being bombarded by Ukraine
Plans for a megamerger were blessed by Vladimir Putin, tying the company’s fortunes to those of the Russian state.
Two years ago, Russian President Vladimir Putin approved a plan to transform Wildberries, a company started by a young mother on maternity leave, into a global online retail giant to compete with industry leaders like Amazon.com. However, Ukraine's recent drone attacks on Wildberries' warehouses have put the company at risk and impacted Russia's economy.
As the Ukrainian forces target the company to disrupt the Russian market, Wildberries has become a critical asset for the Russian government, with over 15,000 employees working for the company. The company's history is marked by a power struggle between a Kremlin-linked oligarch and a Chechen warlord that led to a deadly shootout at its Moscow offices.
In response to the ongoing attacks, the Kremlin is considering state support for Wildberries, potentially affecting the broader banking sector.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
