Dafiti news and archive

Subdued consumer demand impacts Global Fashion Group's results

In the fourth quarter, Global Fashion Group (GFG) delivered a net merchandise value (NMV) of 369 million euros, a 14 percent decrease due to the continued subdued consumer demand environment. Revenue decreased 16.8 percent to 243.1 million euros. Full year NMV was down 14.2 percent to 1,279.3 million euros and revenue was down 18 percent to 838...

Business

Global Fashion Group expects to deliver better results in 2023

Global Fashion Group (GFG) reported preliminary results for the full year 2023 with a 14 percent decrease in net merchandise value (NMV) on a constant currency basis to 1.3 billion euros. The company said in a release that the result is above GFG’s latest guidance of a 16-18 percent decrease, primarily due to better than expected performance in...

People

Global Fashion Group appoints Andre Farber as Dafiti’s new CEO

Global Fashion Group (GFG) has announced the appointment of Andre Farber as chief executive officer of Dafiti, to lead its online platform in Latin America (LATAM). Commenting on the new appointment, Christoph Barchewitz, Co-CEO of Global Fashion Group, said: “As the demand for ecommerce and more online consumer categories continues to...

Business

Forever 21 looking to grow in Brazil with Dafiti

Authentic Brands Group has announced a strategic partnership with Dafiti to grow its Forever 21 brand in Brazil through a digital-first retail strategy. Dafiti, the leading e-commerce company in Brazil specialising in retail development and brand building, will launch an all-new Forever 21 online destination and create an exclusive branded...

BusinessFeatured

Global Fashion Group turns profitable in 2020

Global Fashion Group S.A. (GFG) has announced its target of becoming a 10 billion euros NMV business in the next seven to nine years. In the fourth quarter, GFG delivered NMV of 594.5 million euros, up 28.9 percent driven by accelerated customer acquisition and a significant increase in orders across all markets. In fiscal 2020, GFG’s NMV...

Business

Global Fashion Group opens the largest fulfilment centre in Latin America

Global Fashion Group is marking ten years of growth with the completed launch of its state-of-the-art fully automated fulfilment centre in Brazil. The logistics hub marks the largest automated fashion e-commerce fulfilment centre in Latin America and will serve more than five million customers across Brazil and over 1,000 brand partners with...

Business

Global Fashion Group raises capital to accelerate its growth strategy

Global Fashion Group S.A. (GFG) has announced that the company has raised approximately 120 million euros in gross proceeds, via a placement of 16.5 million new shares at a price of 7.30 euros per share. The company said in a statement that GFG will use the additional capital to accelerate the execution of its mid-term strategy, particularly by...

Business

Global Fashion Group raises full year outlook after strong Q3

Global Fashion Group S.A. (GFG) has updated its outlook for the current financial year as a result of strong trading in Q3. The company said in a statement that it now expects to be profitable with respect to adjusted EBITDA and achieve constant currency net merchandise value (NMV) growth of around 23 percent, delivering 1.9 billion euros NMV...

Fashion

Global Fashion Group withdraws outlook for 2020

Global Fashion Group S.A. (GFG) has said in a statement that after trading in line with expectations until mid-March, GFG has seen a significant negative impact on customer demand across all 17 countries of operations. Therefore, the company is withdrawing its financial guidance for the current year, which excluded the negative effect of...

Business

Global Fashion Group postpones IPO

Fashion e-tailer Global Fashion Group (GFG) has postponed its planned initial public offering (IPO) until July. The offer period for the IPO, which was planned to end 25 June, has now been set for 28 June, while the company’s shares, which were expected to start trading on 27, will now start trading on 2 July. The company, which operates...

Business

Global Fashion Group announces price range for IPO

Global Fashion Group (GFG) has set the price range for its planned initial public offering (IPO) at 6 euros to 8 euros per share as the global fashion e-tailer prepares to float on the Frankfurt Stock Exchange. The offer period is expected to commence on 18 June and to expire on 25 June, while trading in the company’s shares on the regulated...

BusinessFeatured

Global Fashion Group prepares IPO

Fashion e-tailer Global Fashion Group (GFG) has announced its intention to conduct an IPO and a listing of its shares on the Frankfurt Stock Exchange. The company, which operates e-commerce platforms The Iconic, Zalora, Dafiti and Lamoda, said it intends to raise approximately 300 million euros in the planned offering, and will use the money to...