Lamoda

Lamoda is an online retailer of clothing, shoes and accessories in Russia and the CIS, offering more than 1,000 genuine global brands and over 2 million products. Lamoda offers fast delivery, pre-purchase fitting and convenient return terms. Thanks to its own courier service LM Express, as well as a distribution center, the company delivers goods the day after placing an order in more than 150 settlements. Lamoda operates in Russia, Kazakhstan, the Republic of Belarus and Ukraine. The company was founded in 2011 by Niels Tonsen, Florian Jansen, Burkhard Binder and Dominik Picker.

The company employs about 8 thousand people, including employees of the Lamoda Central Office in Moscow, offices in Minsk, Kyiv and Almaty, an automated warehouse complex in Bykovo near Moscow, its own LM Express delivery service, an IT hub and three call centers - in Volgograd, Zhytomyr and Chernigov.

Performance indicators

2023: Turnover growth by 30% to RUB 132.5 billion

According to the results of work in 2023, Lamoda's net turnover reached 132.5 billion rubles, which is 30% more than in 2022. The retailer announced such data on April 8, 2024.

According to Interfax, citing Lamoda materials, in 2023 the company's net turnover on the marketplace model increased by 40% (an absolute indicator is not given). EBITDA in 2023 turned out to be equal to 11.8 billion rubles, which is 10% more than a year earlier.

According to the results of work in 2023, Lamoda's net turnover reached 132.5 billion rubles

The average check for orders for Lamoda in 2023 amounted to 5121 rubles. The number of platform users who access it at least once a month is estimated at 14 million people.

According to the company, the main factors that contributed to a significant increase in the turnover of the marketplace were active investments in key areas. Lamoda has focused on developing the chain of pick-up points, launching the Lamoda Sport network, product development and marketing promotion, the retailer said in a statement.

Lamoda CEO Maxim Grishakov, commenting on the company's performance, pointed out the importance of investment efficiency, emphasizing that the company will continue to focus not only on growth dynamics, but also on business profitability, as well as on strengthening competitive advantages.

At the end of 2023, more than 800 new manufacturers joined Lamoda, with almost half of them local brands. The company emphasized. that she pays great attention to the originality of the products. The greatest growth dynamics on the site in 2023 was demonstrated by such categories as premium goods (+ 34%), men's clothing (+ 33%), accessories (+ 39%), among which bags (+ 60%), jewelry (+ 60%) and jewelry (+^[1]rubles

2018: Revenue growth by 8.5% to RUB 29.7 billion

In 2018, Lamoda's revenue rose 8.5% to 29.7 billion rubles.

2017: Record loss of 2.4 billion rubles

As it became known on August 1, 2018, the online retailer Lamoda completed 2017 with a record loss, follows from the data of the SPARK-Interfax analytical system. In particular, the net loss of the operating company of the retailer LLC Kupishuz at the end of the year amounted to 2.43 billion rubles.

According to the investment company Kinnevik (one of the founders of the Global Fashion Group, which includes Lamoda), in 2017 Lamoda increased revenue by 32.8% to 405.1 million euros (over 29.76 billion rubles).

Meanwhile, the company's revenue growth in the reporting year slowed to 14.8% from 42.9% in 2016 (then revenue amounted to 27.4 billion rubles). At the same time, gross profit increased by 27.2%, to 9.4 billion rubles. Commercial expenses increased by 49.5% to 8.9 billion rubles, and management expenses decreased by 25.2% to 2.05 billion rubles. The loss from sales amounted to 1.5 billion rubles against 1.3 billion rubles a year earlier.

In 2017, the retailer increased "other expenses" 3.3 times - to 1.15 billion rubles with a drop in revenues under "other income" by 13.4 times, to 153.3 million rubles.

In 2013-2016, the company was profitable, but in 2016 its net profit fell 3.3 times, from 1.01 billion rubles in 2015 to 302.5 million rubles.

According to the data presented in the SPARK-Interfax system, before the retailer had already gone into the red - in 2011-2012. Then the company's net loss amounted to 364.5 million rubles and 1.3 billion rubles, respectively.^[2]

History

2024

Implementation of ML model for defective item recognition

On June 24, 2024, Lamoda announced the introduction of a machine learning model that predicts marriage among goods. According to the retailer, the technology has doubled the speed of processing returns after customers try on.

All items in the warehouse that customers returned are first checked through the ML model. She carries out daily scoring of the received positions and assigns one of three statuses: everything is fine with the thing, it is sent for storage, gets to the showcase and is sold further; There may be problems with the thing, a quick check by a warehouse specialist is required; there are definitely problems with the thing, it is sent to the quality service for careful inspection by a specialist.

Lamoda has implemented a smart system that identifies defective goods in stock

If the condition of the product does not allow it to be sold anymore, then it will be sent for charitable purposes. The machine learning model of marriage prediction is the company's own development. To create and integrate the model, 20 million lines of historical data were taken and more than 60 characteristics about the product and order were taken into account - including characteristics received from other ML models.

At Lamoda, we pay great attention to the quality of the product and how customers get experience, interacting with us at any stage of purchase. The introduction of such an ML model allows us to more closely monitor the marriage of goods and influence whether a person will buy this thing next time. In addition, we save a huge amount of human resources in the warehouse, "says Tatyana Umryaeva, Managing Director for Lamoda Product. - In our plans to continue to improve the model and work to increase the accuracy of marriage forecasts.

As noted in Lamoda, according to the results of the preliminary audit, the quality and accuracy of verification has increased significantly. Prior to the implementation of the ML model, defects in clothing and footwear were determined by employees after manual inspection of each item.

Investing billions of rubles in the opening of new points of issue of orders

In mid-February 2024, Lamoda announced plans to increase by 50% the number of its own points of issue of orders (PVZ) - from 800 to 1200 by the end of 2024. New points will be opened throughout Russia, and not limited to the capital region, the company said.

We understand that PVZs are very convenient for many customers as a delivery method. The availability of PVZs directly affects user loyalty and activity on the platform. In addition, their own points of issue are direct contact with the audience, the opportunity to introduce people to the brand, make it more recognizable, "commented Lamoda CEO Maxim Grishakov to Forbes magazine.

Lamoda announced plans to increase by 50% the number of own points of issue of orders

Data Insight analyst Sergei Semko said in a conversation with the publication that opening one of his own PVZs can cost from 1.5 to 5 million rubles, including the cost of finding premises, attracting a business partner, contractual work, repairing premises, equipping storage facilities, purchasing equipment, safety systems and other costs.

With this level of investment, the total amount of Lamoda's investments in network expansion can range from 600 million rubles to 2 billion rubles, depending on the selected locations and the level of costs per point. This does not take into account regular payments for rent, labor and utility costs, - he said.

Maxim Grishakov also on the development of physical retail Lamoda. The company has launched its own chain of multi-brand sports goods stores Lamoda Sport. By mid-February 2024, 50 stores were opened, the company plans to launch more than 300 points. Investments in the development of the network will be, presumably, about 30 billion rubles.

By February 2024, Lamoda operates in the markets of Russia, Belarus and Kazakhstan. ^[3]

2023

Opening retail stores under the Lamoda Sport brand

Lamoda is launching a chain of sporting goods retail stores under its own brand, Lamoda Sport. The company announced this on December 12, 2023.

Outlet format stores were the first to open:

• Moscow, Entuziastov highway, p. 13
• 1 Mytishchi Kommunisticheskaya Street, Shopping and Entertainment Center XL

December 19 - Lamoda Sport Outlet at 35 Testator Avenue, Orion Shopping Center, St. Petersburg.

Lamoda Sport Outlet stores present sports clothes footwear and past collections at discounted prices. The assortment is based on products of such global brands as,, and adidas Puma Reebok others. The first stores are also pilot for the entire future Lamoda Sport network - they will test the operation of supply chains, equipment, - IT systems and other components of points trade.

Until the end of 2023, stores of other formats with a different assortment will also begin to open: Lamoda Sport - a multi-brand store of sportswear and shoes, Lamoda Sport Kids - sportswear and shoes for teenagers and children and Lamoda Sport Urban - for fans of street style.

In retail stores, customers have all the benefits of the Lamoda Club loyalty program - customers can receive points and increase their personal discount both online and offline.

The demand for sporting goods for December 2023 remains very high, and our experience and effective work with suppliers allow us to offer customers the most interesting assortment from world brands, as well as a high level of customer service. We will actively use the strengths of online and offline so that our customers are always satisfied with the choice and purchases, "said Maxim Grishakov, CEO of Lamoda.

Opening of the first offline stores in Adidas squares

At the end of August 2023, Lamoda announced the opening of its sporting goods stores. Some points will be located on the site of the closed stores of the Adidas chain.

Lamoda is going to open about 300 stores in more than 20 cities of Russia, and the retailer plans to open about 50 outlets by the end of 2023.

Among the goods in new Lamoda stores are goods from both large international brands and local brands and Asian manufacturers. The company will determine the final assortment for the launch of stores, but it is expected that among them there will be brands popular on Lamoda, writes RBC. Sportswear and footwear are one of the biggest categories on Lamoda, the retailer said. This section features about 250 brands, the most popular: Adidas, Puma, Reebok, Nike and Vans.

Over the past year, the fashion market structure has completely changed, and we are striving to adjust our business models in a timely manner. Sportswear and footwear are one of the most popular categories on Lamoda and we continue to support a wide range of such products. I am sure that our experience in working with sports brands and focus on a high level of service for customers of offline sports stores will make Lamoda a place of attraction for all fans of sports and sports style in clothes, - said Lamoda CEO Maxim Grishakov.

President of Baon Ilya Yaroshenko says that investments in the opening of one sports store per 1,000 square meters. m can range from 100 million rubles. Thus, the volume of investments in a network of 300 points can reach 300 billion rubles. Lamoda has a "huge clothing base," the marketplace records "hits in the moment," and if they establish quick deliveries, they will be able to take advantage of the market, the expert added.^[4]

Appointment of Maxim Grishakov

On June 5, 2023, online retailer Lamoda announced the appointment of Maxim Grishakov as the new CEO of the company. In this post, he will replace Geri Kalmis. Read more here.

2022

Panchenko Yakov acquired Lamoda

On October 7, 2022, the sale of the online retailer Lamoda to the owner of the Russian Stockmann, Yakov Panchenko, was announced. The transaction was closed on December 12, 2022, its financial terms were not disclosed.

The Global Fashion Group holding only said that it expects about €100 million in revenue from the sale of Lamoda in addition to the value of funds held in the Lamoda business as of September 30, 2022. Under the terms of the deal, Yakov Panchenko will receive Lamoda's business with operations in Russia, Kazakhstan and Belarus.

Russia According to the results of the first half of 2022, Lamoda's turnover grew by 44.2% to 47.3 billion, rubles says Mikhail Burmistrov, general director of Infoline Analytics. According to him, the fair value of the online retailer's business can be at least €500 million. However, the actual value of the transaction, taking into account the discount, hardly exceeded €150 million, the expert said. In his opinion, a third-party financial partner and a partner who will help effectively manage the acquired business can take part in the transaction with Lamoda. The source Kommersant suggested that such a partner could act. Sberbank Despite the breakdown of the deal with Stockmann, SberMarket continued to cooperate with the department store chain, and such a partnership would allow the marketplace to strengthen the competencies that Lamoda has already developed, the source said.

Marina Malakhatko, head of the retail department of CORE.XP, commenting on the deal in a conversation with the newspaper, expressed the opinion that Yakov Panchenko was acquiring an excellent IT product, since the businessman needed a marketplace for the development of Stockmann.

In April 2022, it was reported that the Global Fashion Group suspended investments in Lamoda due to a military special operation RUSSIAN FEDERATION on. To Ukraine It was also said about the suspension of the construction of the second warehouse of the online retailer in Russia.^[5]

Fine of 3 million rubles for canceled orders

On August 24, 2022, it became known that the Russian sued Lamoda 3 million for canceled orders. According to the Ni Mash Telegram channel, the online retailer did not deliver goods for such an amount to a resident of the city of Bor in the Nizhny Novgorod region within a year, arguing its decision with technical problems. At the same time, the company returned to the man the prepayment made by him. A total of 122 items were not delivered to the buyer.

The Lamoda user, who went to court, in turn said that difficulties with delivery arose after Lamoda refused to refund him for watches and sneakers that did not fit him. After the buyer issued a return, the trading platform accused him of the fact that these goods are used, and also called him a problem client. So, the store claimed that a piece of cement was found in the shoe box, and "other watches" in the watch box.

The Russian, offended by the behavior of the marketplace, decided to go to court, which took the side of the plaintiff, as he found out that the retailer has no return rules in the event of a technical failure. In the first lawsuit, the man was awarded 360 thousand, rubles in the second - 2.8 million rubles.

The man added that the company must pay a penalty for the days on which it withheld prepayment for the placed orders. According to users, he will find where to spend this money, but in any case he will no longer work with this store.^[6]

Signing a self-regulatory agreement with Marketplaces sellers

Russian marketplaces signed an agreement with sellers on self-regulation, including to combat counterfeit goods. This was announced by the Association of Internet Trade Companies (AKIT) on June 7, 2022. Read more here.

2021: Plan to open about 400 vacancies for IT professionals

On April 14, 2021, Lamoda announced that it would soon open about 400 vacancies for IT professionals, thereby doubling its staff of technical experts. About half of the number of new employees will be developers on Go, the company will also attract Java and PHP developers, specialists in working with cloud services, logistics systems and others. In addition to the information technology directorate itself, the direction of data and analytics, as well as the product team, will be strengthened.

A significant expansion of the IT direction is associated with the rapid growth of the company's business and its strategic priorities, Lamoda explained. The key tasks of the IT team will be the development of logistics systems, including the construction of multi-trading operations in connection with the opening of the second distribution center of the company, the development of client service, marketing tools, including the development of services for Lamoda partners, as well as further automation of the company's internal processes.

To maintain the pace of development that Lamoda shows, we must update our IT foundation in a timely manner. The technical unit of the company has big and ambitious goals, and we are ready to invest not only in increasing the staff of technical specialists, but also in their further professional development so that they can implement bright projects and become part of Lamoda's success, "said Emil Abdulnasyrov, Managing Director for Information Technology Lamoda.

Candidates from any city and country will be able to apply for vacancies - the company offers the possibility of remote work.

2018

Change of CEO

From March 1, 2018, Florian Jansen, who holds the post of Managing Director (CEO) of Lamoda, will become the CEO of the online retailer. At the same time, Burkhard Binder will also receive part of the managing powers.

As it became known on February 1, 2018, two of the four co-founders of the online retailer Lamoda - Lamoda CEO Niels Tonzen and Managing Director Dominic Picker, responsible for the development of the IT direction - will leave senior positions in the company in a month to focus on new business tasks.^[7] Read more here.

2014

The reason for the searches in the Lamoda office is named

At the end of November 2014, the company intended to participate in the global Black Friday sale. Searches in the office of the online store Lamoda.ru were associated with a planned tax audit, the Vedomosti newspaper reports, citing a company representative^[8].

At the same time, the company was ready for verification, and denies reports of the seizure of documents and equipment from the office. The checks being carried out at the main office of the online store Lamoda.ru became known on the afternoon of November 28. It was also reported that all employees were taken out of the office to the street, investigators took out system blocks of computers and accounting from the office, and it was assumed that this was due "to numerous violations in the procedures for processing goods for the company at customs."

As part of the Global Fashion Group

Since 2014, Lamoda has been part of the Global Fashion Group (created by Kinnevik, Rocket Internet and Access Industries).

Lamoda online store attracted 10 million euros in investments

The online store Lamoda.ru received an investment of 10 million euros from the International Finance Corpotarion; IFC), a member of the World Bank group^[9].

Lamoda representatives report that the investment will allow the company to continue its development, maintain positive growth dynamics and increase environmental, social and management standards. The investment will also be aimed at the regional expansion of the online retailer, in particular the development of its own delivery service Lamoda Express.

In addition, the company plans to develop business in the markets of other countries. "All CIS countries are of interest to us. We already have experience in the successful launch of the Lamoda.kz project (earned in 2012 - approx. CNews), which in a short time gained the trust of customers and became the leading online clothing and footwear store in Kazakhstan. Further expansion into the markets of the CIS countries is one of the priority tasks for us, but it is too early to talk about the details, "Niels Tonsen, CEO of Lamoda, told CNews

.

Note that less than a year ago, Lamoda attracted an even larger investment, which it also planned to spend on improving logistics processes. In June 2013, a consortium of investors Access Industries, Investment AB Kinnevik, JP Morgan Chase, Summit Partners and Tengelmann acquired a stake in Lamoda for $130 million.

2012

Lamoda, a Russian fashion e-commerce retailer, confirmed in September 2012 information about receiving investments from JP Morgan Asset Management, which acquires a cash stake in Lamoda through a German holding (cash-for-equity deal).

Within 1.5 years of its launch, the Lamoda project has become one of the leading players in the online retail fashion market, offering authentic products from 700 global brands, amounting to around 500,000 items of clothing, footwear and accessories. To date, the company employs more than 800 people, and also operates a delivery service throughout the country. Lamoda's online store was launched with the support of Rocket Internet, a European "incubator" of online startups, and is managed by four founders of the project - Dominik Picker, Florian Jansen, Burkhard Binder and Niels Tonsen.

"The

investment raised highlights our leading position in one of the world's fastest growing markets," says Lamoda co-founder Niels Tonzen. "This will allow us to further expand both the portfolio of products and brands, as well as our presence in other emerging markets - in Ukraine, Kazakhstan, Azerbaijan and Belarus. We will continue to improve the processes of processing, as well as execution and delivery of orders, and will strive to improve the experience of our customers from online shopping. "

Robert Kuzin, portfolio manager at J.P. Morgan Asset Management, who worked on the deal, echoes Tonzen: "We believe that Lamoda is currently in an ideal situation to capture and use the rapid growth of Russian and related markets in its favor. Our investment will help the company expand its operational capabilities and customer service resources. "

Notes