Lamoda will hold an IPO to raise 300 million euros for business’ development

The company Global Fashion Group, which controls online-retailer Lamoda, is planning to hold an initial public offering on the Frankfurt Stock Exchange in order to attract 300 million euros for the company’s development – RNS reports, citing the Global Fashion Group press service.

As it is noted in the company, it is assumed that the planned offer will consist only of newly issued shares.

It is also reported that the growth rate of online-store Lamoda revenue slowed up at the 2018 end, and in monetary value moved to decrease. “It is explained this in the company by moving to a larger share of sales on the marketplace model. Lamoda has reached the operational break-even point, according to the results of 2019 first quarter,” – it is said in the statement.

Global Fashion Group is a global company engaged in the sale of clothing and accessories. The group consists of four e-commerce platforms (Lamoda, Iconic, Zalora and Dafiti), which realize the selling in the Asia-Pacific region, Latin America and the CIS. The company’s revenue amounted to 1.156 billion euros in 2018. In 2019, it is expected 1.3 billion euros.

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