Iakov Panchenko completed the acquisition of Lamoda from GFG for €95m.

Iakov Panchenko, a retail fashion investor, completed the acquisition of Lamoda, an operator of an online shopping platform, from Global Fashion Group, an online fashion portal, for €95m. “We extend our deepest gratitude to the Lamoda team for their unequivocal dedication to their customers over the years. We are handing the business over to a new owner who is committed to preserving Lamoda’s responsible operations, culture and 8k-strong employee base. Looking ahead, rising e-commerce penetration will continue to drive long-term growth in GFG’s markets. We are committed to delivering on our vision as the #1 online fashion and lifestyle destination in LATAM, SEA and ANZ. We have the team, customer base, brand partnerships, infrastructure and financial strength to drive success, while being people and planet positive," Christoph Barchewitz and Patrick Schmidt, GFG Co-CEOs.