MOSCOW, April 22, 2015 (GLOBE NEWSWIRE) -- CTC Media Inc. ("CTC Media" or the "Company") (Nasdaq:CTCM), a leading Russian independent media company, today announced a partnership with Wildberries, one of the largest online retailers in Russia. The partnership will expand sales of CTC Media's "Sweet Me" women's clothing brand, which was initially launched in April 2014.
Yuliana Slashcheva, Chief Executive Officer of CTC Media, said: "Revenue diversification is a particularly important part of our strategy at CTC Media, especially in light of the current state of the advertising market. The development of Sweet Me in 2015 will be an important step in the realization of this strategy. We expect that the partnership with Wildberries, a leading player in Russia's online retail market, will help us reach our sales target of 200 million rubles by year-end."
The first part of the Sweet Me 2015 spring-summer collection, which was developed in partnership with Wildberries, is already available for purchase on the co-branded www.sweetme.wb.ru website, as well as on the official Sweet Me homepage, www.sweetme.ru. The collection, which consists of 48 items available in sizes 40 to 52, includes outerwear, everyday dresses and suiting as well as evening wear.
The Sweet Me brand targets modern, active women between the ages of 25 and 50. The brand takes different body shapes and lifestyles into account, focusing on options that are both feminine and comfortable.
Tatyana Bakalchuk, Chief Executive Officer of Wildberries, said: "The current macroeconomic environment puts Russian brands in the winning position of being able to offer consumers better pricing and quality than their international counterparts. Sweet Me also enjoys strong media support, which benefits Wildberries by expanding our consumer base to CTC Media audiences."
The partnership will invest 400 million rubles in the development of the Sweet Me clothing brand over a three-year period following the brand's launch. As part of the agreement, Wildberries will be responsible for the production, logistics and sales of the brand while CTC Media will be in charge of marketing efforts. Sweet Me will be promoted through the CTC and Domashny television channels as well as through CTC Media's digital platforms.
About CTC Media Inc.
CTC Media is the leading Russian independent media company. The group manages four television channels in Russia (CTC, Domashny, Peretz and CTC Love) as well as Channel 31 in Kazakhstan and a TV company in Moldova with combined audience over 150 million viewers. The international version of CTC Channel is available in North America, Europe, Central Asia, Armenia, Georgia, Azerbaijan, the Middle East and Kyrgyzstan. The international version of Peretz is available in Belarus in Kyrgyzstan as well. CTC Media also owns several digital entertainment media assets including videomore.ru, domashniy.ru, ctc.ru and peretz.ru. CTC Media is publicly traded on NASDAQ under the symbol CTCM.
Wildberries is the largest online retailer of clothing, shoes and accessories in Russia. Founded in 2004, the company has become one of the leading online retailers in Russia and has also expanded into Belarus and Kazakhstan. Today, the company has more than 6,000 employees and is led by its founder and CEO, Tatyana Bakalchuk.
Source:CTC Media, Inc.