French retail group PPR has acquired a EUR10m (US$13.1m) stake in Bigfoot I, the holding company that owns Russian online retailer Lamoda.

A spokesperson for PPR said: "PPR believes in the value growth potential of this company, which is present in fast-growing markets."

PPR reported a 6.6% increase in sales from continuing operations during its third-quarter to EUR2.6bn, helped by rising revenue at its luxury brands, which include Gucci and Yves Saint Laurent.