The Luxembourg company Global Fashion Group (GFG) completed the sale of Lamoda’s business in Russia, Kazakhstan and Belarus to Stockmann’s owner Yakov Panchenko on December 12. This was reported to RB.RU in the press service of the company.
After deducting operating expenses, the company received €95 million in proceeds from the transaction “in addition to the value of cash held in the Lamoda business as of September 30, 2022.”
“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,” Yakov Panchenko said.
The entrepreneur does not intend to change the team, so she will have all the opportunities for development in the company after the transaction. The CEO of the company will continue to be Jerry Kalmis.
- Lamoda was founded by German businessmen Niels Tonsen, Dominik Picker, Florian Jansen, and Burkhard Binder in 2011. Lamoda operates in Russia, Belarus, Ukraine, and Kazakhstan. The revenue of the Russian legal entity Lamoda, Kupishuz LLC, reached 48.5 billion rubles in 2021, with a loss of 631 million rubles.
- In April 2022, it was reported in the media that Global Fashion Group decided to suspend investments in Lamoda amid a special military operation in Ukraine. It also became known about the freezing of the construction of the second warehouse of the online retailer in Russia.
- In October, there were reports about the upcoming sale of Lamoda’s business in the CIS. GFG expected revenue of around 100 million euros.
Author:
karina pardaeva
Source: RB
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