global fashion group news and archive

Global Fashion Group raises capital to accelerate its growth strategy

Global Fashion Group S.A. (GFG) has announced that the company has raised approximately 120 million euros in gross proceeds, via a placement of 16.5 million new shares at a price of 7.30 euros per share. The company said in a statement that GFG will use the additional capital to accelerate the execution of its mid-term strategy, particularly by...

Nov 18, 2020

Report

Global Fashion Group raises full year outlook after strong Q3

Global Fashion Group S.A. (GFG) has updated its outlook for the current financial year as a result of strong trading in Q3. The company said in a statement that it now expects to be profitable with respect to adjusted EBITDA and achieve constant currency net merchandise value (NMV) growth of around 23 percent, delivering 1.9 billion euros NMV...

Oct 9, 2020

Report

Rocket Internet reports H1 loss of 12 million euros

Rocket Internet SE has announced a consolidated loss of 12 million euros (14.2 million dollars) for the first six months in 2020. The company said in a statement that it generated 45 million euros (53.3 million dollars) of consolidated revenue and earnings per share of negative 0.07 euro in H1 2020. The company added that loss of associates and...

Sep 18, 2020

Report

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...

Aug 20, 2020

Management

Global Fashion Group expects to report strong Q2

Global Fashion Group (GFG) expects second quarter to be its second adjusted EBITDA-profitable and first cash flow-positive quarter, as a result of strong customer demand recovery since the end of April, and the company’s strategic response to the Covid-19 pandemic. According to the preliminary results, the company said in a statement, it expects...

Jul 10, 2020

Report

Rocket Internet reports positive trading at selected companies

Rocket Internet SE, confirming its pre-released first quarter result said that the company’s revenues reached 20 million euros and a consolidated loss of 162 million euros compared to 140 million euros of profit in the same quarter of 2019, representing minus 1.18 euros earnings per share. The company said, Rocket Internet’s selected companies...

May 28, 2020

Fashion

Global Fashion Group launches 100 percent recycled packaging

International e-commerce group, Global Fashion Group, has launched 100 percent recycled “delivery satchels” for its Australian multibrand e-tailer, The Iconic. The new packaging is made from 100 percent recycled plastic and feature’s Iconic’s updated white aesthetic. The new delivery satchels has been certified under the GECA’s (Good...

May 27, 2020

Management

Global Fashion Group Q1 GMV improves 13.1 percent

Global Fashion Group S.A. (GFG), for the three-month period ended March 31, 2020, reported net merchandise value (NMV) increase of 13.1 percent on a constant currency basis to 372.1 million euros (402 million dollars). The company said in a statement that revenue growth for the quarter was 8.1 percent on a constant currency basis reflecting a...

May 14, 2020

Report

Rocket Internet posts revenue and profit increase in 2019

Rocket Internet SE in FY19 reported 67 million euros (73.2 million dollars) of consolidated revenue and a consolidated profit of 280 million euros (306.2 million dollars), representing 1.90 euros (2.08 dollars) earnings per share compared to 1.28 euros earnings per share in FY 2018. Commenting on the results, Oliver Samwer, founder and CEO of...

Apr 2, 2020

Report

Global Fashion Group withdraws outlook for 2020

Global Fashion Group S.A. (GFG) has said in a statement that after trading in line with expectations until mid-March, GFG has seen a significant negative impact on customer demand across all 17 countries of operations. Therefore, the company is withdrawing its financial guidance for the current year, which excluded the negative effect of...

Mar 31, 2020

Management

Global Fashion Group achieves EBIDA break even, revenues up 17.7 percent

Global Fashion Group S.A. (GFG) ended 2019 with its first profitable quarter. The company said in a statement that the group delivered adjusted EBITDA of 0.7 million euros (0.78 million dollars). The company reported active customer growth of 17 percent to 13.1 million and orders were up by 20.3 percent to 10.3 million. Net merchandise value...

Mar 3, 2020

Management

Kinnevik's net asset value remains flat in Q4

Kinnevik’s net asset value (NAV) amounted to 73.3 billion Swedish krona (7.65 billion dollars) or 265 Swedish krona (27.6 dollars) per share, down 1 percent in Q3 and up 31 percent in 2019, which the company said was largely unchanged including dividends paid over the quarter, with positive share price development in Zalando and Livongo offset...

Feb 6, 2020