Global Fashion Group suspends investment in Lamoda
Global Fashion Group, which owns the Lamoda online fashion marketplace, which operates in Russia, Ukraine, Kazakhstan and Belarus, announced a freeze on all investments in the development of this project.
According to the GFG report, the group has switched to "financial self-sufficiency", which means that it will continue to support the company's business and its 9 employees, but does not invest in development.
Import deliveries to the region have been reduced, marketing activities have been frozen, and the construction of a second Lamoda warehouse in Russia has been suspended.
Lamoda Group is an online platform for the sale of goods related to fashion and lifestyle, founded in 2011, operates in Russia and the CIS countries, since 2014 it has been part of the public Global Fashion Group. The online platform features over 10 million products from 4 global and local brands. The company employs about 8 thousand people, including employees of the Lamoda Home Central Office in Moscow, offices in Minsk, Kyiv and Almaty, an automated warehouse complex in Bykovo near Moscow, its own delivery service LM Express, an IT hub and three call centers in Volgograd, Zhitomir and Chernigov.
Global Fashion Group, which owns the Lamoda online fashion marketplace, which operates in Russia, Ukraine, Kazakhstan and Belarus, announced a freeze on all investments in the development of this…
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