Samarkand Group plugs the West into Chinese e-commerce
- Samarkand inks contract extension with skincare brand 111SKIN
- Samarkand Group present maiden results as listed company with revenue increasing by over 200%
Quick facts: Samarkand Group PLC
Price: 160 GBX
Market Cap: -
About the company
Samarkand Group PLC is a cross-border eCommerce company focused on connecting Western brands with China, the world’s largest eCommerce market.
The company's proprietary software platform, Nomad, covers commerce, distribution, logistics, payments, and analytics.
How it is doing
The contract is for the ecommerce specialist’s Nomad Distribution services and will also include an expansion of its Nomad Storefront offering for Chinese ecommerce platforms.
Building on the three-year partnership, Samarkand said it will launch a Tmall Global flagship store in China for 111SKIN later this month. Tmall Global is China's leading cross-border eCommerce platform, generating around £360bn gross merchandise value (GMV) in 2020.
The firm said the extension of its relationship with 111SKIN is “testament to the group's continued execution of its growth strategy” while also demonstrating a “growing desire for Western brands to increase their presence in China”.
Revenue soared to £20.6mln from £6.8mln the previous year, boosted by contributions from acquisitions, while like-for-like (LFL) revenues, excluding one-off revenues, more than doubled to £14.8mln from £6.8mln.
What management says
Hampstead explains what drove revenues to increase significantly by 201% to £20.6m (2020: £6.8m).
He says the funds raised from their IPO provides Samarkand with the necessary capital to move to the next stage of their expansion and continued execution of the growth strategy.
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