Netshoes, the world's largest internet retailer for sporting goods, has secured $45 million in new funding from Riverwood Capital and the International Finance Corporation, which belongs to the World Bank, to further expand its presence in Argentina and Mexico. It should also help the Brazilian company to develop its own two private labels, GoNew and All4One, and to branch out into the fashion segment through a new virtual store, called Zattini, launched last year. Netshoes' sales increased by 20 percent in 2014 to 1.2 billion reais (€340.7m-$369.3m). The company generated a positive cash flow from its Brazilian operations for the first time since its foundation in 2000. Netshoes had already obtained $170 million in new funding last year in a round led by GIC, the sovereign fund from Singapore.

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