Home / Knowledge / News / E-commerce / GFG sees continuous growth in customer base during Q1

GFG sees continuous growth in customer base during Q1

20
May '19
Pic: Global Fashion Group
Pic: Global Fashion Group
The active customer base for Global Fashion Group (GFG), a leading online fashion and lifestyle destination, reached 11.5 million in the first quarter of fiscal 2019. On a constant currency basis, during the reported period, the company witnessed Net Merchandise Value (NMV) growth by 22.0 per cent year on year to €341 million on a constant currency basis.

Revenue reached €261 million, growing 15.1 per cent on a constant currency basis in the first quarter of 2019. The company delivered this growth inside our disciplined financial model, using growing scale and operating leverage to continue making progress towards break-even.

“It has been a quarter of strong growth for GFG. We continue to build our online platform for fashion & lifestyle brands to access growth markets and now have over 10,000 brand partnerships. We are seeing strong growth in Active Customers as structural adoption of mobile and e-commerce continues across our markets. Our customers are also buying more, and more often, as we use technology and our unique distribution network to make buying fashion online a frictionless part of every-day life. We continue to invest in the overall customer experience and our operational infrastructure to underpin our continued growth and progress to profitability,” Christoph Barchewitz and Patrick Schmidt, co-chief executive officers, said.

In the CIS region, active customers grew by 9.6 per cent reaching 2.8 million, with NMV per ctive Customers rose 7.7 per cent on a constant currency basis. NMV of €115 million represented a growth of 23.5 per cent from the same time last year on a constant currency basis.

Revenue reached €86 million in the first quarter of 2019, with a constant currency growth of 13.0 per cent. The gross profit margin increased by to 37.4 per cent. Contributing to this is continued focus and investment in our premium brand assortment, which saw the Average Selling Price (ASP) increase significantly in line with strategy.

In APAC, the first quarter saw a strong period, driven by investment in the overall customer experience. Active customers gained by 18.3 per cent to 3.6 million. NMV per active customer also increased strongly by 13.2 per cent on a constant currency basis.

The first quarter saw NMV reach €110 million in the Latin American region, an uplift of 18.4 per cent from Q1 2018 on a constant currency basis. Posting revenue of €80 million in Q1, the gross margin decreased to 40.2 per cent driven by country mix. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 23rd Oct 2021

FDRA urges US govt to remove tariffs causing kids' shoe price spikes

The Footwear Distributors and Retailers of America (FDRA) has sent...

Pic: Sorbis / Shutterstock.com

Fashion | On 23rd Oct 2021

Calvin Klein & Louis Vuitton top 2 trustworthy brands for US customers

Calvin Klein, an iconic American brand that has existed since 1968,...

Pic: Breuninger

E-commerce | On 23rd Oct 2021

Fashion retailer Breuninger to launch e-commerce portal in Poland

After Austria (2017) and Switzerland (2019), fashion company...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search