Global Fashion Group news and archive

Global Fashion Group signals recovery, eyes 2025 breakeven

Fashion retailer Global Fashion Group (GFG) has demonstrated a clear trend of financial stabilization, reporting significant improvements in profitability during its latest financial results. While the fourth quarter saw a slight 0.3 percent dip in net merchandise value (NMV) and a 1.2 percent revenue decrease, these figures represent a...

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Global Fashion Group raises full year outlook

Raising its outlook for the full year, Global Fashion Group (GFG) said that it expects to exceed the adjusted EBITDA guidance set in March of negative 25 to 45 million euros to negative 16 to 28 million euros. The company said in a release that the positive outlook is primarily driven by operational efficiency efforts which have improved overall...

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Global Fashion Group: Q1 revenue declines by 19 percent

Global Fashion Group’s (GFG) first quarter net merchandise value decreased 16.5 percent to 238.8 million euros, while revenue decreased 18.8 percent to 152.7 million euros. Commenting on the first quarter trading performance, Christoph Barchewitz, CEO of GFG, said in a statement: "We are progressing our strategy with our platform transition and...

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Subdued consumer demand impacts Global Fashion Group's results

In the fourth quarter, Global Fashion Group (GFG) delivered a net merchandise value (NMV) of 369 million euros, a 14 percent decrease due to the continued subdued consumer demand environment. Revenue decreased 16.8 percent to 243.1 million euros. Full year NMV was down 14.2 percent to 1,279.3 million euros and revenue was down 18 percent to 838...

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Global Fashion Group expects to deliver better results in 2023

Global Fashion Group (GFG) reported preliminary results for the full year 2023 with a 14 percent decrease in net merchandise value (NMV) on a constant currency basis to 1.3 billion euros. The company said in a release that the result is above GFG’s latest guidance of a 16-18 percent decrease, primarily due to better than expected performance in...

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Global Fashion Group: GMV and revenues decline in Q3

Global Fashion Group (GFG) reported a third quarter net merchandise value decrease of 19.4 percent to 283.9 million euros and revenue decrease of 25 percent to 184.5 million euros. The company reported gross margin of 42.1 percent and adjusted EBITDA margin of negative 9.7 percent. Active customers decrease 19.1 percent during the quarter under...

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Global Fashion Group posts drop in Q2 NMV and revenue

For the second quarter, Global Fashion Group’s (GFG) net merchandise value (NMV) of 346.5 million euros was negative 14.7 percent compared to the same quarter of 2022 and revenues were down 18.6 percent to 223.8 million euros. The company’s first half NMV of 649.9 million euros was down 11.2 percent, while revenues declined 14.9 percent to 422.3...

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Global Fashion Group forecasts 19 percent drop in revenue for Q2

Global Fashion Group (GFG), the online fashion conglomerate in LATAM, SEA and ANZ, has published its preliminary financial results for 2023 Q2, during which time it said it is expected to post a 19 percent drop in revenue. The group further forecast its net merchandise value (NMV) to hit a 15 percent decline, while its adjusted EBITDA margin is...

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GFG names new chief financial officer

Global Fashion Group (GFG), which owns e-commerce platforms The Iconic, Zalora and Dafiti, is continuing its executive team transformation by naming Helen Hickman as its new chief financial officer. Hickman is currently director of group finance and has been with GFG for more than seven years. She will succeed Matthew Price as chief financial...

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Global Fashion Group names Jere Calmes CEO of The Iconic

Global Fashion Group (GFG) has announced the appointment of Jere Calmes as the chief executive officer of The Iconic. The appointment sees Calmes return to GFG after serving for three years at the helm of Lamoda, which the group had sold in late 2022. Calmes was credited with transforming the footwear retailer into a “robust” platform, bringing...

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Global Fashion Group announces leadership transition

Global Fashion Group (GFG), which owns e-commerce platforms The Iconic, Zalora and Dafiti, has announced a new "leadership transition" as part of the group’s "next phase of development". Effective from March 1, Christoph Barchewitz will become the sole chief executive of GFG, as Patrick Schmidt steps down as co-chief executive, after five years...

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Global Fashion Group withdraws full year outlook

In the third quarter, Global Fashion Group (GFG) delivered an NMV of 399 million euros, up by 1.7 percent despite the challenging market conditions. The company’s revenue increased 6.7 percent to 276.2 million euros. Following the group’s decision to sell its CIS business, the company withdrew its guidance for the full year and its longer term...