Blavatnik, Summit Partners, Tengelmann Group put $130 mln into Internet retailer Lamoda
MOSCOW. June 11 (Interfax) - A consortium of investors comprising Leonard Blavatnik's Access Industries, the U.S. outfit Summit Partners, and Germany's Tengelmann Group have invested $130 million in the Internet clothing and footwear seller Lamoda.
Lamada's cofounder and general director, Niels Tonsen, told the business papers Kommersant and Vedomosti that the funds will be put into product line expansion, information technology, and the development of warehousing infrastructure.
Lamoda was launched with the support of Rocket Internet, a European 'incubator for Internet startups, and is managed by the project's four founders, Tonsen, Dominik Picker-Huchzermeyer, Burkhard Binder, and Florian Jansen.
Kupishus (Buy Shoes) LLC operates under the Lamoda brandname. According to the SPARK-Interfax database, it is wholly owned by the German concern Glamstyle Central + Eastern Europe GmbH.
The group PPR and J.P. Morgan Asset Management were earlier investors in Lamoda.