Stockmann owner buys Lamoda
Global Fashion Group has agreed to sell the business of the online retailer Lamoda to the owner of the Russian Stockmann department store chain, Yakov Panchenko. Closing of the deal is expected in the coming months, Kommersant writes.
"Global Fashion Group expects revenue of around 100 million euros in addition to cash on Lamoda's balance sheet at the end of September," the holding said in a statement.
Lamoda is an online platform that operates in Russia and the CIS and specializes in the sale of clothing and footwear. The company was founded in 2011, since 2014 it has been part of the Global Fashion Group.
In April 2022, the Global Fashion Group suspended investments in Lamoda due to the military operation in Ukraine, and the construction of the online retailer's second warehouse in Russia was also suspended.
The international holding Global Fashion Group was founded in 2011, the group is registered in Luxembourg. In addition to Lamoda, the holding includes the Dafiti online platform operating in Latin America, Zalora in Southeast Asia, The Iconic in Australia and New Zealand. Lamoda operates in the markets of Russia, Belarus, Ukraine and Kazakhstan. According to SPARK-Interfax, the revenue of Kupishuz LLC (Lamoda brand) in 2021 amounted to 48,5 billion rubles, the loss was 631 million rubles. According to Infoline-Analytics, Lamoda's turnover in Russia in the first half of 2022 increased by 44,2% to RUB 47,3 billion.
Global Fashion Group has agreed to sell the business of the online retailer Lamoda to the owner of the Russian Stockmann department store chain, Yakov Panchenko. The deal is expected to close in the coming months.
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