Giglio.com posts 32 percent increase in Q1 sales

Online multi-brand luxury fashion platform Giglio.com closed the first quarter with revenues of 12.8 million euros, a 32 percent increase compared to the same period of the previous year.

The company sales increased 85 percent compared to the first quarter of 2021.

“We continue along the growth path we have undertaken, demonstrating once again - with our achievements - that we have structured the company with a rewarding business model capable of going against the declining trends our competitors are experiencing, but also capable of adapting to the difficult context of the industry and to the most hostile exogenous conditions,” said Giuseppe Giglio, president and CEO of Giglio.com.

The main indicators of business development, the company said, show a strong growth trend in the quarter, with traffic volumes increasing by 39 percent compared to the first quarter of 2022 and, consequently, active customers increasing by 30 percent.

This growth was supported by the development of international markets, with GMV growth in North America of 40 percent and MENA, 77 percent. The company confirms its focus on high-end product selections, marking a 13 percent of the average value of products sold compared to the same quarter of 2022.

Compared to the first quarter of 2021, the company added, the intensification of relations with luxury brands has also allowed Giglio to triple the revenues contributed from partnerships with brands.