Russian startups swarming westwards

2for1, a Russian-Ukrainian startup is one such company that has tailored its project for the US market, ewdn.com reports. Being part of the growing discovery commerce sector, 2for1 aggregates top sale deals of the 15 most visited online stores in the US and Europe. Designed as a website and Android application, 2for1 filters the biggest bargains in Macy’s, Nordstrom, Gap, Zappos, Nike, H&M, Asos and redirects users to the stores.

The US apparel market totals USD 250 billion and it is the second largest apparel market after the European Union. Russia is currently the seventh-largest market at USD 4 billion, but it continues to shrink in the aftermath of the economic downturn. On the one hand, discovery commerce startups have more prospects in the US, where the apparel market is more developed than in Russia. On the other hand, experts say that high competitiveness and a saturated market for ecommerce startups could pose a major obstacle for newcomers.

Oleg Tinkov, a Russian businessman with a commercial enterprise ranging from frozen dumplings to retail banking, is pessimistic about the prospects for young Russian entrepreneurs abroad. In his recent interview with Russia’s “Secret Firmy” business magazine, cited by the source, he said that the US market was “too complicated” for entrepreneurs that don’t have products or sales in Russia.

There are a growing number of startups of Russian origin that have thrived internationally. Among the leading success stories are Ecwid, a provider of ecommerce solutions on Facebook with over 600,000 merchants in 175 countries. Another example of a successful project that comes from Russia is App in the Air, a mobile app that helps users track flights and explore airports. It was ranked among the 100 Greatest Apps by Business Insider.