Global Fashion Group news and archive

Global Fashion Group appoints Andre Farber as Dafiti’s new CEO

Global Fashion Group (GFG) has announced the appointment of Andre Farber as chief executive officer of Dafiti, to lead its online platform in Latin America (LATAM). Commenting on the new appointment, Christoph Barchewitz, Co-CEO of Global Fashion Group, said: “As the demand for ecommerce and more online consumer categories continues to...

Fashion

Global Fashion Group goes carbon neutral

Online fashion retailer Global Fashion Group (GFG) has announced it has gone carbon neutral across its operations and outbound deliveries. The company said it achieved this by offsetting the emissions it generates by purchasing carbon credits from certified renewable energy projects located in China, India and Brazil where its operations and...

Business

Global Fashion Group Q1 revenue up 11 percent

Online fashion retailer Global Fashion Group has reported an 11 percent increase in revenue in Q1. The company, which operates e-commerce platforms The Iconic, Zalora, Dafiti and Lamoda, saw revenue increase to 301.3 million euros in the quarter compared to 271.4 million euros in the prior-year period. Net merchandise value grew 37.8 percent,...

Business

Global Fashion Group raises 375 million euros to fund NMV growth target

Global Fashion Group S.A. (GFG) has announced placing of seven-year senior, unsecured bonds in an aggregate principal amount of 375 million euros. The company said that the proceeds from this financing will be invested in capitalising on this market opportunity and executing the clear investment strategy that supports GFG’s ambitious NMV target....

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Business

Global Fashion Group turns profitable in 2020

Global Fashion Group S.A. (GFG) has announced its target of becoming a 10 billion euros NMV business in the next seven to nine years. In the fourth quarter, GFG delivered NMV of 594.5 million euros, up 28.9 percent driven by accelerated customer acquisition and a significant increase in orders across all markets. In fiscal 2020, GFG’s NMV...

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Business

Kinnevik reports 52 percent increase in full year net asset value

Kinnevik’s net asset value amounted to 111.7 billion Swedish krona or 402 Swedish krona per share at the end of 2020, up by 3.8 billion Swedish krona or 4 percent in the quarter and 38.4billion Swedish krona or 52 percent in the full year. The company said in a statement that a broad-based revaluation in our private portfolio, which was up 22...

Business

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...

Business

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...

Business

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...

Business

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...

Business

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...

Business

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...