The online fashion retailer Global Fashion Group SA (GFG) also closed the second quarter of the 2022 financial year with a significant increase in sales. In addition, the company was able to significantly reduce its loss. This emerges from an interim report published on Thursday.
Accordingly, group sales in the months of April to June reached a level of EUR 505.9 million, which corresponds to an increase of 27.3 percent compared to the same quarter of the previous year. Adjusted for exchange rate changes, revenues increased by 10.8 percent. The net goods value (NMV) grew by 29.8 percent (currency-adjusted +11.8 percent) to 792.1 million euros.
At 17.0 million euros, the loss before interest and taxes (EBIT) was around ten percent higher than in the previous year, but the reported net loss was reduced by more than half: it fell from 17.5 to 8.6 million euros.
In the entire first half of the year, group sales amounted to EUR 855.1 million and were thus 22.4 percent (currency-adjusted +13.9 percent) above the corresponding level of the previous year. The net loss fell from 65.1 to 50.9 million euros.
Founded in 2011, the Global Fashion Group operates various fashion retail platforms in up-and-coming growth regions. The group includes online retailers Dafiti (South America), Lamoda (CIS), Zalora (Southeast Asia) and The Iconic (Oceania).