The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
One of Russia’s biggest online fashion and beauty retailers, the Global Fashion Group-owned Lamoda, increased its net turnover to 18.6 billion roubles ($250.8 million) in the second quarter of 2021, a rise of 24.2 percent year-on-year. Its gross profit grew by 24.2 percent on the year to 5.8 billion roubles ($78.2 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 the second quarter, Lamoda also increased its number of active users 3.4 percent, to 3.5 million.
In total, more than 400 new fashion and lifestyle brands joined Lamoda in the first half of the year, including Massimo Dutti, 12Storeez, Monochrome, Philipp Plein, Billionaire and Pierre Hardy.
Learn more:
ADVERTISEMENT
How to Capture More of Russia’s E-Commerce Market
With Wildberries racing to become Russia’s answer to Amazon, many brands are turning to devoted fashion platforms like Lamoda.ru and Aizel.ru but the market has many challenges.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.