Russia has a large population of 142 million people and is becoming the largest consumer market in Europe, surpassing Germany. Moscow has a booming economy that is no longer considered emerging. Many luxury brands and fast fashion retailers are expanding into Russia with flagship stores. E-commerce in Russia is experiencing phenomenal growth but still only represents 2% of total retail sales, indicating great potential for further expansion. Fashion is the most dynamic sector in Russian e-commerce. Local fashion e-commerce players are well funded to capitalize on this growing market.