The saga of Wildberries, Russia’s leading online marketplace, took a dramatic turn when a proposed merger with the Russ Group sparked a violent power struggle. The conflict pitted co-founders and former spouses Vladislav and Tatyana Bakalchuk against each other, with powerful backers on both sides. Chechen leader Ramzan Kadyrov supports Vladislav, and Dagestan billionaire Suleiman Kerimov backs Tatyana.
Key Points
- Wildberries CEO Tatyana Kim confirms merger with Russ Group despite violent opposition.
- The new RWB platform aims to rival SWIFT, Amazon, and Alphabet in Russia’s ruble-based digital economy.
- Merger linked to Russia’s wartime asset redistribution benefiting Kremlin-connected figures.
- Kim’s ex-husband and Wildberries co-founder, Vladislav Bakalchuk, opposed the merger, leading to violent clashes.
Short Narrative
Wildberries, Russia’s largest online retailer (website), finalized its controversial merger with Russ Group, creating the RWB platform—a digital project positioned as a ruble-based alternative to international financial systems. CEO Tatyana Kim announced the deal’s completion in a video on her Telegram channel, stating, “we’re ready for new projects.”
Despite Wildberries’ clear market dominance, the merger is widely seen as part of Russia’s wartime economic strategies, with Kremlin-linked officials involved in approving the deal. The violent opposition from Wildberries‘ co-founder and Kim’s ex-husband, Vladislav Bakalchuk, escalated into a fatal shootout in Moscow.
Bakalchuk, alongside armed supporters, stormed Wildberries‘ Moscow HQ in protest of the merger. Two security guards were killed, the Russian TASS reported. Multiple felony charges, including murder, were filed against Bakalchuk and several others involved in the incident. Kim, now backed by Russian law enforcement, vows justice.
Actionable Insight
The merger of Wildberries and Russ Group illustrates how Russia’s economic elite are realigning assets in response to geopolitical pressures. Investors and analysts should monitor the RWB platform closely as it could signal Russia’s intent to bypass global financial systems like SWIFT.
Analysts described the merger as unbalanced. Wildberries generated 538.7 billion rubles ($2.7 billion) in revenue last year, compared to Russ Group’s 27.9 billion rubles ($300 million). According to The Times of Moscow, the merger could be part of Russia’s wartime redistribution of assets, benefiting business figures linked to the Kremlin.
Russian media reported that Putin’s cabinet signed off on the merger, which was overseen by Deputy Chief of Staff Maxim Oreshkin. Allegedly, Russia’s president Putin instructed Oreshkin to support the deal.
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