Global Fashion Group news and archive

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...

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Global Fashion Group reports Q2 revenue, NMV growth

Global Fashion Group (GFG) has reported revenue of 505.9 million euros in the second quarter ended June 30, up 27.3 percent from the previous year, or up 10.8 percent at constant exchange rates. The group, which operates e-commerce platforms The Iconic, Zalora, Dafiti, and Lamoda, posted net merchandise value (NMV) of 610.1 million euros, up...

Management

Global Fashion Group posts revenue and NMV growth

Global Fashion Group S.A. (GFG), reported quarterly revenue and NMV growth of 17.9 percent and 22.9 percent respectively, and gross margin and adjusted EBITDA improvements. Commenting on the results, Christoph Barchewitz and Patrick Schmidt, co-CEOs of GFG, said: “We release our Q1 2022 results in difficult times. The safety of our Ukrainian...

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Global Fashion Group delivers Q3 NMV growth of 12 percent

In the context of an exceptionally strong comparative last year, Global Fashion Group (GFG) continued to see growth in the third quarter of 2021. The group delivered NMV of 572 million euros, up by 12 percent and 51 percent on a two year basis driven by an increase in orders and average order value. Revenues for the quarter increased 8.5 percent...

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Global Fashion Group joins Global Fashion Agenda as strategic partner

Emerging markets e-commerce firm Global Fashion Group (GFG) has announced it will be joining sustainable nonprofit, Global Fashion Agenda (GFA), in a strategic partnership. It will become the first partner to be operating across Latin America, the CIS, Southeast Asia and Australia, supporting the organisation’s mission to empower the fashion...

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Global Fashion Group posts NMV growth of 32 percent, reaffirms outlook

In the second quarter, Global Fashion Group (GFG) delivered NMV of 610.1 million euros, up by 32 percent, which the company said was driven by new customer growth and loyal customers returning to the platform and spending more. The company’s revenue increased 24.2 percent to 397.3 million euros. GFG now has 17 million active customers, up 15.8...