JP Morgan Chips In For Another Rocket Internet Venture: Russian Fashion Site Lamoda

#SuryaRay #Surya Less than a month after JP Morgan put an undisclosed investment into Zalando, the Zappos-like European shoe site from the Samwer brothers, the bank is taking an equity stake in another Rocket Internet fashion business: Lamoda.ru in Russia, a site with 5 million unique users and 500,000 “loyal customers,” a Lamoda spokesperson tells me. The news was announced by Lamoda itself. The terms of the investment were not disclosed. Lamoda,  you might recall, played an infamous part in an embarrassing email from Oliver Samwer, one of the founders of Rocket Internet: in a letter to employees, he made detailed references to the mistakes Lamoda had made, as a cautionary tale for those not to be repeated in other markets. It was a revealing and damaging email for a company that likes to play its cards close to its chest. (Witness the fact that investment and other figures and wider business strategies are rarely, if ever, revealed.) http://dlvr.it/25TvM0 @suryaray