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Russian online retailer rides out storm

Ulmart turned adversity into advantage by developing its own logistics system

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RUSSIAN retailers are being hit by consumers' loss of purchasing power, but Ulmart, the country's version of Amazon, expects to strengthen its position as people begin to count every kopeck.

Moscow

RUSSIAN retailers are being hit by consumers' loss of purchasing power, but Ulmart, the country's version of Amazon, expects to strengthen its position as people begin to count every kopeck.

"We are optimistic about this year," said Ulmart board chairman Dmitry Kostygin.

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