Founded in 2011 by Niels Tonsen, Dominik Picker-Huchzermeyer, Burkhard Binder and Florian Jansen, Rocket Internet backed Russian based online fashion store, Lamoda has secured a USD130 million (RUB4.2 billion) round of funding from Access Industries, Summit Partners and Tengelmann. The new investors will take a direct stake in Lamoda in an all cash-for-equity deal.
This round of financing, led by Access Industries, represents the largest e-commerce investment in Russia and the CIS to date and 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 be Russia’s leading online fashion retailer offering more than 1,000,000 products and 800 international brands.
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.”
Within just two years, Lamoda has attracted more than 1,000,000 clients and is counting over 20,000,000 visits every month on its platforms Lamoda.ru and Lamoda.kz.