Home / Knowledge / News / Fashion / GFG NMV soars 24.1%, shows strongest growth in 2019

GFG NMV soars 24.1%, shows strongest growth in 2019

Nov '19
Pic: Global Brands Group
Pic: Global Brands Group
Global Fashion Group (GFG), an online fashion and lifestyle retail brand, has delivered its strongest growth in Net Merchandise Value (NMV) this year. Its NMV increased 24.1 per cent on a constant currency basis to €433.8 million. Revenue growth was 18.7 per cent on a constant currency basis as marketplace share continues to grow, now at 22 per cent of NMV.

The active customer base of the company reached 12.4 million, growing by 15 per cent with NMV per active customer also continuing to increase, by 6.9 per cent to €134.9.

Number of orders grew by 20.8 per cent to 8.5 million. Adjusted EBITDA margin was 2.8 per cent delivering an improvement of 3.1 per cent year-on- year.

“We had a strong third quarter with a good step up in NMV. We have focussed on enhancing our market leading customer experience through broadening our assortment, enhancing our app functionalities and further cementing sustainability as a key pillar of our business – all through our ongoing excellent localised execution. In this way, we continue to invest across our early stage markets, strengthening our growth and path to profitability even further,” said Christoph Barchewitz and Patrick Schmidt, GFG co-chief executive officers.

GFG continues to evolve its assortment strategy with the launch of over 440 fashion & lifestyle brands in Q3 and the introduction of new categories and more exclusive brand collaborations and products. GFG also launched its first sustainable own brand, Aere, and appointed its first chief sustainability officer to ensure sustainability is integrated into every part of the business.

Operational developments further enhanced the delivery experience offered in CIS through an expanded network of pick-up points. 45 per cent of all orders shipped in Q3 were delivered via 300 own pick-up points and over 12,000 third-party pick-up points.

Innovations in app functionality have continued to deliver new levels of customer engagement and strengthened GFG’s app-first approach. Its apps were downloaded over 9 million times and generated 50 per cent of NMV in Q3, up 7 percentage points (pp) compared to the same period last year.

Gross margin for the quarter was 40.5 per cent, improving 4.3 pp on Q3 last year. The rate of growth was flattered by soft performance in CIS in Q3 2018. GFG’s Adjusted EBITDA margin was 2.8 per cent in the quarter, improving 3.1 pp year on year, driven primarily by improved gross margin.

The overall guidance provided by the GFG in the H1 management report is reconfirmed. The group forecasts NMV growth between 20-23 per cent on a constant currency basis, growing to €1.7-€1.8 billion. The group forecasts revenue to grow to above €1.3 billion, whilst continuing to make further progress towards Adjusted EBITDA break-even. GFG continues to forecast its 2019 capex investment to be around €80 million with €41 million invested to date.

Fibre2Fashion News Desk (PC)

Must ReadView All

Pic: Shutterstock

Textiles | On 20th Sep 2021

Turkmenistan, Uzbekistan agree to raise trade turnover to $1 bn

Uzbekistan and Turkmenistan recently agreed to raise bilateral trade...

Pic: Shutterstock

Textiles | On 20th Sep 2021

MPs, peers call on UK govt to ban fur sales & imports

Over 100 cross-party members of Parliament (MPs) and peers have...

Pic: Canopy Planet

Apparel/Garments | On 20th Sep 2021

Over 400 brands now part of Canadian organisation Canopy's initiatives

Canopy has announced that over four hundred brands and retailers are...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Rajesh Vohra,

Rajesh Vohra

A part of the Italy based multinational company Artsana Group, Chicco is...

Dave Rousse, INDA

Dave Rousse

INDA, a global association of the nonwoven fabrics industry, has been...

Shlomzion Chen, Seevix

Shlomzion Chen

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

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

Advanced Search