Interview with Serhiy Badriddinov, CEO of INTERTOP Ukraine for Forbes
Over the past 30 years, INTERTOP has evolved from a chain of offline footwear stores into one of the leaders in Ukrainian fashion retail, and further into a multi-brand marketplace. The company has brought together products from global and Ukrainian manufacturers, enhancing their recognition while optimizing marketing, advertising, packaging, and delivery costs. Today, the INTERTOP marketplace continues to improve collaboration with existing partners and attract new ones.
How did the company manage to scale rapidly and successfully, attracting major brands like Puma and Adidas to the marketplace? CEO of INTERTOP Ukraine, Serhiy Badriddinov, shares the story.
The Origins and Development of INTERTOP Marketplace
The transition from an offline footwear retailer to a marketplace with an innovative app was a gradual process. As leaders in footwear retail, we sought to expand and scale, which led us to enter the apparel market and develop e-commerce, including a marketplace.
In 2020, INTERTOP launched a specialized marketplace, expanding beyond fashion to include beauty products, lingerie, and more. Why? The answer is simple—our innovations stem from deep analysis of consumer demand. Customers seek variety in products from both local and global brands, high-quality service, and reasonable prices. We realized that even if we stocked products from dozens or even hundreds of brands, we couldn't meet all consumer needs. So, we decided to become a specialized marketplace, inviting strong manufacturers to collaborate and proving that we could exist alongside giant marketplaces while achieving impressive sales volumes.
By partnering with us, companies increase their sales while benefiting from INTERTOP's user-friendly interface and creative advertising. Their reputation grows thanks to our established credibility and expertise. INTERTOP is equally convenient and beneficial for both manufacturers and consumers.
What Makes Us Unique?
First, INTERTOP operates with a forward-thinking and fully transparent business model. Everything we do aligns with our vision: to connect all creators and consumers of fashion on an open technological platform where companies can grow, and shoppers can enjoy an exceptional experience. We uphold transparency with the state, partners, and customers—paying taxes and working only with suppliers who are honest taxpayers.
Second, our focus is on the customer and shaping a positive shopping experience. We know our clients inside out—what interests them, what they look for, when and at what price they make purchases. The INTERTOP marketplace is a sales channel featuring products from major Ukrainian and global brands. Unlike some other popular e-commerce platforms, we do not allow counterfeit goods, fakes, or price inflation.
Third, we enhance brand recognition and popularity for our partners. A decade ago, INTERTOP did not sell sports footwear, but today, 40% of our business consists of sports sales. This success stems from our mutually beneficial partnerships with Puma and Adidas. We established shop-in-shop corners in INTERTOP stores, showcasing their products separately, which significantly boosted sales.
What Does It Take to Become an INTERTOP Marketplace Partner?
A company must be tax-transparent, honest, offer high-quality original products, and have no "Russian footprint." Businesses should be ready for growth—demonstrating ambition, openness, and trust. Our tools will then help them achieve remarkable results.
Unfortunately, not all companies are willing to operate transparently. According to our data, about 50% of fashion businesses optimize taxes, a concerning statistic for Ukraine. We strongly disapprove of such practices. Unpaid taxes mean lost revenue for the country at a time when its very existence is at stake. Ukraine is on its path to becoming a future EU member and must already behave as such.
We also condemn sellers who bypass tax laws by selling products without issuing fiscal receipts. The government has mandated cash registers and receipts, yet enforcement remains weak. At INTERTOP, every sale is accompanied by a fiscal receipt—an unbreakable rule in all company processes. Consumers must also play their part—always demanding a receipt during purchases. Sometimes, buying cheaper products unknowingly harms the state and economy because the platform evades taxes.
What INTERTOP Offers Its Partners
The INTERTOP marketplace provides manufacturers with growth opportunities, increased sales, improved reputation, and enhanced brand recognition. Our collaboration with suppliers is multi-faceted: INTERTOP both purchases goods for offline stores and sells them online via our website and app. The process of onboarding a partner onto our platform takes just 24 hours—from registration to product listing.
We offer various promotional formats within the marketplace and guarantee transparent cooperation, including an in-house photo studio for creating high-quality visual content, which enhances product presentation. Our marketing agency services help partners advertise their products effectively.
Partners also gain access to the SAP for Retail accounting system, where they can track inventory movements, logistics, and financial results.
INTERTOP’s Digital Infrastructure
INTERTOP's digital ecosystem is, in my opinion, one of the best among Ukrainian online platforms. For instance, our app, which we have been actively developing for the past three years, includes an outfit selection feature where AI suggests matching items based on a selected product. Our next goal is to introduce a personalized shopping experience, where the website and app recommend products based on a user's past searches, tailoring suggestions by size, price, and style.
Additionally, INTERTOP offers a click-and-collect model, integrating the website, mobile app, 160 offline stores, and warehouses. A post-payment option is available: if an item is in stock at a store, the customer can order it online, visit the store to try it on, and pay only if it fits.
A Call to Ukrainian Manufacturers
Every day, the INTERTOP team communicates with marketplace partners and continuously improves our service based on feedback. We also conduct ongoing market research to understand consumer demands. On January 1, 2024, we expanded our platform to include a HOME category, recognizing that our core customers shop not just for clothing and footwear but also for jewelry, cosmetics, and home goods. By streamlining shopping experiences, we have enabled customers to purchase home essentials within the same platform.
INTERTOP is currently at its peak performance—like an athlete before the Olympics. We will expand product categories and grow further. Those who work with us will also flourish, benefiting from new technologies, marketing expertise, and customer experience insights. While creating advertisements and content with existing partners, our team will also focus on attracting new ones.
This is a direct invitation to Ukrainian manufacturers to develop domestic fashion with us. Why? Because our partnership is transparent and straightforward, without hidden pitfalls, and backed by one of the leading fashion retailers in Ukraine. In modern e-commerce, customers are invaluable assets—and we have them.