Global Fashion Group (GFG) had a successful second quarter, with impressive financial results and significant improvements in gross margin. The online fashion and lifestyle destination, known for its focus on growth markets, reported a 32% increase in Net Merchandise Value (NMV) to €610.1 million, and a 24.2% revenue growth, totaling €397.3 million. These numbers are a testament to the company’s strong performance during this period.

One of the standout achievements for GFG during the second quarter was the remarkable growth in Marketplace NMV, which experienced a 60% increase. This growth was accompanied by a participation rate of 37.7%, further demonstrating the popularity and success of GFG’s marketplace platform. In addition, the company saw a significant expansion in active customers, with a 15.8% increase. This growth in customer base is a positive sign for GFG’s future prospects.

Furthermore, GFG witnessed improvements in order frequency and NMV per active customer. Order frequency rose by 9.6%, indicating that customers are engaging with the platform more frequently. NMV per active customer also climbed by 14.9% to €127.30, suggesting that customers are spending more per transaction. These numbers indicate a strong level of customer loyalty and engagement with the GFG platform.

Despite the ongoing impact of the pandemic, GFG remains optimistic about its performance. Co-CEOs Christoph Barchewitz and Patrick Schmidt highlighted a strong recovery in order frequency, with a 10% increase, and emphasized the significant growth in the Marketplace business. As e-commerce continues to thrive, GFG is confident in achieving its long-term targets. The company attributes its success to the resilience of its team and the positive results they continue to deliver.

In its efforts to broaden its assortment, GFG launched new categories and established strategic brand partnerships in the second quarter. Collaborations with Country Road Group and Massimo Dutti, as well as expanding geographic reach for brands such as Kate Spade and Yves Saint Laurent, played a crucial role in the impressive 60% growth in Marketplace NMV. Additionally, the Beauty category experienced exceptional growth of 68%, showcasing GFG’s commitment to offering a diverse range of products to its customers.

Overall, GFG’s second quarter results highlight its strong performance and growth in all regions. While the company did experience a increase in final loss for the period compared to the previous year, the overall final loss for the first half reduced, indicating a positive trend. GFG’s continuous growth, strategic partnerships, and focus on customer engagement position the company for future success in the highly competitive fashion and lifestyle industry.

Useful links:
Global Fashion Group Investor Relations
Global Fashion Group Brands