The Iconic news and archive

Global Fashion Group: Q1 revenue declines by 19 percent

Global Fashion Group’s (GFG) first quarter net merchandise value decreased 16.5 percent to 238.8 million euros, while revenue decreased 18.8 percent to 152.7 million euros. Commenting on the first quarter trading performance, Christoph Barchewitz, CEO of GFG, said in a statement: "We are progressing our strategy with our platform transition and...

Business

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...

Business

Global Fashion Group names Jere Calmes CEO of The Iconic

Global Fashion Group (GFG) has announced the appointment of Jere Calmes as the chief executive officer of The Iconic. The appointment sees Calmes return to GFG after serving for three years at the helm of Lamoda, which the group had sold in late 2022. Calmes was credited with transforming the footwear retailer into a “robust” platform, bringing...

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 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...

Business

Global Fashion Group Q2 sales increase by 11.3 percent

Global Fashion Group S.A. (GFG) revenues increased 11.3 percent and net merchandise value (NMV) increased by 22.8 percent to 488.3 million euros for the second quarter. In euro terms, revenues dropped 1.8 percent to 336.1 million euros. The company said in a statement that marketplace NMV grew by 90 percent resulting in 31 percent share compared...

Fashion

Global Fashion Group launches 100 percent recycled packaging

International e-commerce group, Global Fashion Group, has launched 100 percent recycled “delivery satchels” for its Australian multibrand e-tailer, The Iconic. The new packaging is made from 100 percent recycled plastic and feature’s Iconic’s updated white aesthetic. The new delivery satchels has been certified under the GECA’s (Good...

BusinessFeatured

Global Fashion Group achieves EBIDA break even, revenues up 17.7 percent

Global Fashion Group S.A. (GFG) ended 2019 with its first profitable quarter. The company said in a statement that the group delivered adjusted EBITDA of 0.7 million euros (0.78 million dollars). The company reported active customer growth of 17 percent to 13.1 million and orders were up by 20.3 percent to 10.3 million. Net merchandise value...

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...