Online store Lamoda raises $130M

Online store Lamoda raises $130MOnline fashion retailer Lamoda raised $130M from several investors - Access Industries of Leonard Blavatnik, Summit Partners and Tengelmann. The transaction was in the cash for equity format. The current distribution of investor shares in the capital of online retailer is not disclosed. This is the largest investment in the Russian Internet commerce market.

Lamoda was launched in 2011 by German startup incubator Rocket Internet. The company founders - Dominique Picker, Florian Jansen, Burkhard Binder and Niels Tonsil – spent two years to create a store that offers products of 900 international brands, with more than 1M products in stock: clothes, shoes, accessories, household products, cosmetics and perfumes. According to comScore, the number of unique visitors of Lamoda.ru in April amounted to almost 4.7M people (attendance growth in annual terms is 102%).

The company will use received funds to expand its product and brand portfolio, develop IT technologies within Lamoda platform, and to refine the infrastructure of its own delivery service Lamoda Express.

JP Morgan Asset Management invested in the development of Lamoda from $55M to $80M last year, becoming the owner of a minority stake in the company. A few months later, French holding PPR became a co-investor in Lamoda project investing €10M.