Lamoda business in the CIS sold to the owner of the Stockmann network
The Luxembourg Global Fashion Group (GFG), which owns one of the largest online fashion retailers in Russia, Lamoda, has sold this business to the owner of the Stockmann department store chain, Yakov Panchenko. This is reported on the GFG website.
“In addition to the company’s announcement of October 7, 2022, today we successfully completed the sale of GFG’s Lamoda business to fashion retail investor Yakov Panchenko. GFG received €95 million in revenue (net of operating costs) in addition to cash held in the Lamoda business as of September 30, 2022,” the company said in a statement.
Lamoda Group - an online platform for the sale of goods related to fashion and lifestyle, founded in 2011, has been operating in Russia and the CIS countries since 2014. The company owns its own automated warehouse complex in Bykovo near Moscow, develops its own delivery service LM Express, which provides delivery of orders in more than 150 cities of Russia. On the territory of the CIS The company's offices are located in Moscow, Minsk, Kyiv, Almaty.
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