- Prachi Singh |
Global Fashion Group (GFG) said in a statement that net revenue for the fourth quarter was 328 million euros (403.6 million dollars), while full year net revenue was 1,095 million euros (1,347.6 million dollars), representing 22.7 percent growth in constant currency for the quarter and 19.9 percent for the full year respectively. NMV, which includes marketplace sales, grew 23.7 percent on constant currency basis for the quarter to 337.7 million euros (415.7 million dollars), while full year NMV reached 1,130.6 million euros (1,392 million dollars), delivering full year constant currency pro forma growth of 21.1 percent.
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During the quarter, adjusted EBITDA margin improved by 350 basis points versus Q416 to 6.5 percent of net revenue, while gross profit margin declined 4.4 percentage points. For the full year, adjusted EBITDA margin improved by 5.8 percentage points to of net revenue.
Regional businesses under GFG reported positive sales
The company said, Lamoda’s net revenue was 122.1 million euros (150.3 million dollars) for the quarter, and 405.1 million euros (498.9 million dollars) for the year, representing 16.2 percent constant currency growth for the quarter and 21 percent for the full year. NMV grew to 116.1 million euros (142.9 million dollars) and 388.9 million euros (478.9 million dollars) for the quarter and the full year showing constant currency growth of 11.9 percent and 17.2 percent, respectively. Lamoda’s gross profit margin reduced by 2.4 percentage points to 38.6 percent in Q417 or 37.3 percent for the full year.
In the quarter, Dafiti delivered net revenue and NMV growth on a constant currency basis of 18.2 percent and 22.1 percent to 108.4 million euros (133.5 million dollars) and 113.6 million euros (139.9 million dollars) respectively, which the company said was driven by a successful Black Friday campaign in Brazil. Net revenue and NMV grew to 365.2 million euros (449.7 million dollars) and 388.7 million euros (478.7 million dollars) in 2017 and represent growth of 12.5 percent and 16.9 percent on a pro forma constant currency basis. Gross profit margin declined by 3.1 percentage points in the quarter to 40.3 percent, and full year gross margin was 42.6 percent, a decline of 0.8 percentage points.
Zalora and The Iconic delivered growth rates in Q417 of 37.8 percent and 40.7 percent respectively for net revenue 97.1 million euros (119.5 million dollars) and NMV of 108 million euros (133 million dollars) on a constant currency basis. Net Revenue and NMV for the year reached 323.5 million euros (398.4 million dollars) and 353 million euros (434.8 million dollars), with pro forma constant currency growth of 27.9 percent and 30.7 percent, respectively. Gross profit margin declined by 8.2 percentage points in Q4 to 35.2 percent.