Global Fashion Group Q2 sales increase by 11.3 percent

Global Fashion Group S.A. (GFG) revenues increased 11.3 percent and net merchandise value (NMV) increased by 22.8 percent to 488.3 million euros for the second quarter. In euro terms, revenues dropped 1.8 percent to 336.1 million euros. The company said in a statement that marketplace NMV grew by 90 percent resulting in 31 percent share compared to 19 percent in the second quarter of 2019. The company reported adjusted EBITDA profitability of 9.5 million euros, a margin of 2.8 percent, breaking even for the second time.