“ECommerce, Analytics And The Cosmetics Industry – Maksim Zheludkov: Strategy Of A NewFormat Entrepreneur”

In modern business, ecommerce and the cosmetics industry represent the cutting edge of the global economy. It is here that new rules of the game are set, leading brands are born and established systems are transformed.

Maksim Zheludkov is an extraordinary entrepreneur who, in just a few years, has managed to build a business that has become a benchmark for companies in the ecommerce market.

His projects in the cosmetics industry and the consumer goods sector have earned him recognition as an expert confidently rising to the top of the field. His journey is a story of how perseverance, talent, and the ability to see opportunities despite circumstances lead to the creation of a brand capable of making a strong statement.

Your Business Journey Began Right After University, In 2021. Tell Us How You Came To The Idea Of Working With Marketplaces And Where That Has Led You Today.

Indeed, I started almost immediately after graduating. I had friends who were already working with marketplaces; they drew me into this sphere and helped me understand the nuances. At first, I simply resold goods from China and learned through practice. But gradually the scale grew: in the first year we made 1.5 million rubles in revenue, in 2022 almost 8 million, in 2023 around 27 million, and last calendar year about 35 million.

The main thing is experience. I realised that the ecommerce market is a living organism, and to stay in the game you have to act aggressively, quickly, and not be afraid to take risks.

Today You Have Two Key Areas: Marketplaces And Your Own Brand, Barlow. How Did The Idea To Launch Cosmetics Come About?

It was very simple: I saw that the market was changing. New regulations are effectively pushing foreign brands off the shelves, and prices for imported cosmetics in Russia will rise dramatically. I realised this was a window of opportunity. Besides, I already had experience: we sold cosmetics from China. So the decision came naturally—if the market is freeing up, you need to occupy the niche.

In July, we released our first product under the Barlow brand, and now we are preparing a line of 10–15 products. These include decorative and skincare cosmetics. Our formulas are on the level of leading global brands, but the price is one and a half to two times lower. That’s our philosophy: the best balance of price and quality.

Cosmetics Manufacturing Is A Complex And Highly Competitive Field. Where Have You Placed Production, And How Do You Ensure Quality?

We have two directions: Russia (Sochi and Kirov) and China. At Russian sites, we can produce small batches of around 5,000 units, which is important for testing.

China offers larger volumes starting from 12,000 units, while quality levels and response speed there are higher. Sometimes it’s faster to bring products from China than from neighboring Podolsk. It’s a paradox, but it’s true. We work directly with factories, avoiding intermediaries. That gives us speed, control, and confidence in the result.

You’ve Often Said That You Work “Despite” Circumstances. What Main Challenges Do You Face?

The list is huge: rising costs, bureaucratisation, constant changes in legislation, new labeling requirements that increase product costs without providing noticeable value to the consumer. Marketplace policies have also become noticeably tougher: commissions are rising, conditions are becoming stricter. As a result, margins are shrinking.

I’ll be honest: success didn’t come because everything was perfect, but despite it. I’m simply inclined to take risks, act aggressively and not be afraid to take steps that others hesitate to make.

At The Same Time, Your Growth Rates Are Impressive: Up To 300% Per Year And Hundreds Of Thousands Of Products Sold. What’s Behind These Numbers?

Teamwork and the ability to see opportunities. Yes, I was lucky with the timing of my start, but success can only be sustained if you invest effort every day. We have a small but closeknit team, just six people including me. There’s a deputy, an account manager, a designer, logistics specialists, and packers.

At the start, we worked at breakeven, sometimes almost without profit, but we kept moving forward. I believe the results exist because we act as a single organism.

If We Talk About The ECommerce Market As A Whole, How Do You See Its Development In The Coming Years?

Online has already beaten offline in many ways. But I think that in the near future, the growth of marketplaces will be restrained. Traditional retail has strong lobbyists, and they will push for restrictions on ecommerce.

Still, it won’t be possible to stop it completely: consumers vote with their wallets, and they choose convenience. As a result, small businesses will gradually leave the platforms, and medium and large players will remain.

Your Promotion Strategy Is Also Interesting: You Actively Worked Through Instagram And Tiktok, Which Are Now Restricted. How Do You Find New Customers?

Honestly, this is the main challenge. The tools that really worked are essentially banned. Advertising on Instagram delivered the best results. We collaborated with bloggers and received a stream of customers from there. Now there’s uncertainty. Other tools work worse. But the market always finds new formats; we’ll adapt.

You’re A Young Entrepreneur But Already Have Serious Experience. How Do You Personally Deal With Burnout And Fatigue?

I probably don’t experience burnout because I don’t know what it’s like otherwise. I started in 2021, right after university, during a very difficult period of crisis and restrictions. I’ve simply gotten used to living under constant pressure. That’s what hardens you.

Have You Had Failures? For Example, Products That Didn’t Sell At All?

Of course. That’s inevitable. There were products that didn’t sell at all. But in business, it’s important not to be afraid of mistakes: every mistake is an investment in experience.

Speaking Of Competition With Major Players: Do You Consider Cooperation With “Zolotoye Yabloko” Or “Magnit Cosmetic”?

Yes, we have agreements in place, and in the second quarter of 2026 we plan to enter “Magnit Cosmetic” and “Zolotoye Yabloko.” But for that, we need a product matrix and a broader assortment. That’s exactly what we’re working on now.

You’ve Received Recognition At Business Awards. Which Project Are You Particularly Proud Of?

One case is establishing direct contracts with factories in China. Usually, companies in Russia work through resellers, but we managed to build direct logistics: from factory to warehouse in just 10–15 days. This became our competitive advantage and was noted by experts.

And Finally, What Advice Would You Give To Young Entrepreneurs Who Are Just Planning To Enter The ECommerce Market?

Be ready to take risks. The minimum entry threshold today is over one million rubles. You need to assume from the start that you might lose half of it. And most importantly, don’t build illusions: the market is complex, and the rules change every week. If you’re ready for that, if you have inner energy and the desire to fight, then it’s worth trying.

And If You Had The Chance To Start Over, Would You Choose A Different Path?

No. I would take the same path, but faster, taking my experience into account. Mistakes are what made me stronger. And the cosmetics industry and ecommerce are markets where you can create real success stories.