Russian Online Retail Giant Lamoda sees Q1 Turnover Grow 40%

Russian Online Retail Giant Lamoda sees Q1 Turnover Grow 40%

Lamoda website homepage. Shutterstock.

One of Russia’s biggest online fashion and beauty retailers, the Global Fashion Group-owned Lamoda, increased its net turnover to 14.7 billion roubles ($197 million) in the first quarter of 2021, a rise of 40 percent over the same period last year. Its gross profit grew by 34.5 percent year-on-year to 4.2 billion roubles ($56 million).

The company, founded in 2011, has more than 10 million products from 4,000 brands on its platform and operates in Russia, Belarus, Ukraine and Kazakhstan. In Q1, Lamoda also increased its number of active users 21 percent, to 3.7 million.

Brands available on the platform include Tommy Hilfiger, Calvin Klein, Hugo Boss and Polo Ralph Lauren. According to the company’s earnings report, premium fashion brands, beauty and sporting goods were its three main drivers of growth. New premium brands to have joined the platform recently include Heron Preston, Linda Farrow and 7 For All Mankind.

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