J.P. Morgan to invest in Russian e-tailer

American investment bank J.P. Morgan Chase & Co. is to

invest between 40 million dollars to 80 million dollars to acquire stakes in online fashion retailer Rocket Internet’s Russian arm Lamoda. Lamoda did not disclose the amount of this investment, nor its valuation.

Despite the final amount has not been dislosed, people close to the operation pointed out that the capital injection amounted to somewhere between 40 million dollars and 80 million dollars.

The company purchased shares in a cash for equity deal.According to the same sources, Lamoda will use the money to expand its portfolio and to enter into other markets.

J.P. Morgan Chase & Co. (NYSE:JPM) recently acquired stakes in other Rocker Internet fashion retailers including Zalando in Europe and Dafiti in Brazil.