Russian online store fashion store Lamoda has secured a US$130-million round of funding from Access Industries, Summit Partners and Tengelmann.
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Rocket Internet, the German-based startup clone incubator behind Lamoda, claims that this round of financing represents the largest e-commerce investment in Russia to date. It believes that the deal, led by Access Industries, is “a strong indication of investors’ confidence in the online retailer after two years of steady growth”.
Since its inception in 2011, Lamoda has grown to offering more than a million products from 800 international brands. It also claims that it’s served over a million clients and that it has over 20-million visits every month on its Russian and Kazakhstani platforms.
The new investors will take a direct stake in Lamoda in an all cash-for-equity deal.
Len Blavatnik, Founder and Chairman of Access Industries said: “Lamoda is a dynamic e-commerce company with strong growth and an experienced management team.”
The company has recently focused on regional expansion and improving its logistics system. Lamoda Express, a company-owned courier service, now offers next day delivery in over ten cities throughout Russia.
“The investment allows us to continue building out our position as the leading fashion e-commerce retailer in Russia and the CIS,” said Lamoda Co-founder and CEO Niels Tonsen. “We are focused on offering the best possible customer experience paired with a unique product offering of local and international brands. With Lamoda Express we are already serving important parts of Russia with next day delivery. We will use the new investment proceeds to make this unique value proposition available to ever-increasing numbers of our clients this year and beyond.”
Lamoda employs over 1 200 people with offices in Russia and Kazakhstan. Built on a self-managed distribution center, Lamoda offers next day delivery to major Russian regions through its company-owned Lamoda Express courier service. The company was founded in 2011 by Niels Tonsen, Dominik Picker-Huchzermeyer, Burkhard Binder and Florian Jansen.