Luxembourg firm Global Fashion Group delivers 23% NMV growth in Q1

26 Apr '22

2 min read

Pic: Global Fashion Group

Global Fashion Group (GFG), one of the leading online fashion and lifestyle destinations in growth markets, has reported quarterly revenue and NMV growth of 17.9 per cent and 22.9 per cent respectively, and gross margin and adjusted EBITDA improvements. In the first quarter of fiscal 2022, the company has delivered NMV of €543.2 million.

Marketplace NMV increased by 35.8 per cent yoy reaching 39.2 per cent of NMV, as more brand partners choose this channel to reach GFG’s growing customer base. The group continues to see marketplace scale faster than retail growth, GFG said in a press release.

“We released our first quarter of 2022 results in difficult times. The safety of our Ukrainian colleagues remains paramount and we continue to support them and the broader humanitarian response as best we can through an increased pledge of €5 million. While this context has made for an unsettling start to the year, our team has delivered good first quarter results. Our customer and financial metrics continued to develop positively and we remain confident in achieving our long-term strategy as the leading fashion & lifestyle destination in growth markets,” Christoph Barchewitz and Patrick Schmidt, co-CEOs of GFG, said.

The continued level of uncertainty in CIS means the company is currently unable to provide guidance for FY2022.

Fibre2Fashion News Desk (RR)