Lamoda will continue to operate under the same brand after the purchase by the owner of Stockmann

Global Fashion Group (GFG) and Stockmann owner Yakov Panchenko completed the sale of Lamoda’s business in Russia, Kazakhstan and Belarus. The company will continue to work under the same brand. GFG reported that post-sale proceeds were €95 million, net of transaction costs, “in addition to cash held by Lamoda’s business as of September 30, 2022.”

The completion of the transaction was confirmed by both parties. An agreement was reached on 7 October. Mr. Panchenko noted that Lamoda “will continue its development without significant strategic and operational changes in its activities.” “We have no plans to merge the company with my other assets. Also, I have no plans to change the team – it will have all the opportunities for development in the company after the deal. The CEO of the company will remain Jerry Kalmis. The management team will also not undergo any changes,” Mr. Panchenko said in a statement received by Kommersant. He reported “RIA News”that the name will also remain the same.

Lamoda online store appeared in 2011. Now it presents, according to its own estimate, more than 10 million products from 4 thousand brands. Lamoda employs about 8,000 people. These are employees of the central office in Moscow, offices in Minsk and Almaty, an automated warehouse complex in Bykovo near Moscow, a delivery service, an IT hub, a call center in Volgograd and other facilities.

Global Fashion Group suspended investments in Lamoda in the spring due to the military operation of the Russian Federation in Ukraine. The company has also suspended construction of the online retailer’s second warehouse. The Global Fashion Group also includes the Dafiti online platform operating in Latin America, Zalora in Southeast Asia, The Iconic in Australia and New Zealand.

Read more about the deal – in the material “Kommersant” “Lamoda changes owner”.

Leonid Uvarchev