Russian Fashion Site LaModa Reports Large Investment
Deal could be Worth between $40 and $80 Million
Russian fashion site LaModa.ru reports the JP Morgan will take an equity stake in the company. This will be the third fashion e-commerce site the JP Morgan has invested in over a short period of time.
While details of the deal are not yet clear, it has been reported that it could top anywhere between $40 to $80 million. LaModa.ru, which has over 5 million users, will be expanding the company’s portfolio with the new funding.
Lamoda.ru (Kupishoes LLC) is Russia's fastest growing fashion e-commerce startup.The company has reached the #1 position in the shoe segment within 6 months after launch.The project was launched in March, 2011, and soon became one of the leading players in the online shopping sphere. Today Lamoda.ru already has the biggest choice of shoes in the Russian online market and is rapidly expanding its selection of clothes and accessories. The fast growth is driven by the support of major European investment companies: Tengelmann Group, Holtzbrinck Ventures, Investment AB Kinnevik and Rocket Internet.
By Lolita A. Alford