News Flash

GFG Q3 FY20 results: revenue €337 mn; NMV €503 mn

13 Nov '20

2 min read

Pic: Global Fashion Group

Global Fashion Group (GFG), a leading online fashion and lifestyle destination, posted 3.5 per cent revenue growth to €336.5 million in its third quarter (Q3) FY20 ended on September 30, 2020 compared to revenue of €325.1 million in same period last year. Group’s net merchandise value (NMV) for the quarter grew to €503.4 million (Q3 FY19: €433.8 million).

“Q3 was one of our strongest quarters since the start of GFG almost 10 years ago and we are very pleased to have increased NMV by 35 per cent while also improving Gross Margin and Adjusted EBITDA significantly,” Christoph Barchewitz and Patrick Schmidt, co-CEOs of GFG, said in a press release.

Gross profit for the quarter was €149.5 million (€131.5 million). Adjusted EBITDA for Q3 FY20 was €10.3 million compared to loss of €9.1 million in Q3 FY19.

GFG stated that during the reported period, Latam performance well with 52.1 per cent NMV growth, while SEA and CIS saw uplifts of 34.0 per cent and 31.8 per cent, respectively. During Q3 FY20, The Iconic Outlet and the beauty category were successfully launched in ANZ.

“These results are a real testament to the resilience of GFG’s business model, the agility of our operations, and our people who have adapted well to new ways of working, and we are very grateful for their excellent work during these extraordinary times,” Barchewitz said.

Fibre2Fashion News Desk (JL)