Russia-based online fashion retailer Lamoda has raised $130m funding led by Leonard Blavatnik’s US-based industrial conglomerate Access Industries, and joined by growth equity investment firm Summit Partners and Tengelmann Ventures, corporate venturing subsidiary of the Germany-based commercial retail group Tengelmann Group
Lamoda has been incubated by Rocket Internet, Germany-based e-commerce incubator in which Access Industries made a direct investment of $200m in May 2012. In September 2012, Lamoda raised funds of between $40m and $80m led by JP Morgan.
Lamoda co-founder and chief executive officer Niels Tonsen said: “The investment allows us to continue building out our position as the leading fashion e-commerce retailer in Russia and the CIS.”
Leonard Blavatnik, chairman and founder of Access Industries, said: “Lamoda is a dynamic e-commerce company with strong growth and an experienced management team.”