One of Russia’s biggest online fashion and beauty retailers, the Global Fashion Group-owned Lamoda, increased net turnover to 19.2 billion roubles ($271.6 million) in its third quarter, a rise of 31.8 percent year-on-year. Its gross profit grew by 32.7 percent on the year to 5.8 billion roubles ($82 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 third quarter, Lamoda also increased its number of active users to 3.5 million.
Key drivers of growth in the quarter included an increase in the frequency of orders, along with rapid growth in its Premium category and beauty, Lamoda chief executive, Jere Calmes, said.
In total, more than 200 fashion and lifestyle brands joined Lamoda in over the three month period. Among them, Moon Boot, Ermenegildo Zegna Underwear, Spanx all signed on to the platform’s Premium section.
Following a significant expansion in Lamoda’s premium brand portfolio, the number of buyers of premium goods also increased by 61 year-on-year, while net turnover in the Premium section increased by 67 percent.
