If e-commerce giant Amazon thought it had tough competition from China's Alibaba, it might want to consider a new Russian dark horse in the shape of Ulmart.
Headquartered in St Petersburg, the online retailer has broken away from its domestic rivals and has started to post promising sales, making it the biggest online retailer in Russia by revenue. Often regarded as Russia's answer to Amazon with its sales of electronic goods and computer hardware, Chairman Dmitry Kostygin fired a warning shot at its U.S. counterpart.