×
201
Fashion Jobs
KITEX GARMENTS LIMITED
General Manager - Merchandiser
Permanent · ALUVA
ZODIAC CLOTHING CO LTD
Sourcing Officer (Fabric & Garment)
Permanent · MUMBAI
LIFESTYLE BRANDS
Head of Marketing, Louis Philippe - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Online Sales &Amp; Merchandising Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
HIGH FASHION GARMENT COMPANY
Manager Humanr Resource (Male) From Mumbai Only
Permanent · MUMBAI
RAJ KHATRI FILMS PVT LTD
Digital Marketing Executive
Permanent · MUMBAI
PANTALOONS HO
Manager - Digital Marketing - Mumbai
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Buying, Peter England- Bangalore
Permanent · BENGALURU
ANANDGUPTA COUTURE
Social Media Marketing & Fashion Design Assistant
Permanent · MUMBAI
DESIGNR
Sales Officer
Permanent · NEW DELHI
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · MIRYALAGUDA

Global Fashion Group losses halve as sales leap

Published
today Sep 8, 2017
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Rocket Internet published its Q2 results for Global Fashion Group (GFG) Friday so just how did the giant online fashion destination for growth markets fare?


Global Fashion Group



It looks to be doing well, apart from the fact that it’s still lossmaking. But its losses have dwindled while sales are on the rise, even excluding the Namshi business (in which Emaar Malls has acquired a controlling stake).

GFG said that in Q2, continued net revenue saw growth across all regions. Net revenue for the quarter was up 25.6% to €281.9 million, or 16% currency-neutral. Meanwhile, NMV, which includes Marketplace sales, surged 29.3% to €292.1 million (18.8% currency-neutral).

Of course, as mentioned, the company is still making a loss, but that loss on an adjusted Ebitda basis was almost halved from €23.1 million to €12.1 million.

That reduction in red ink came as the company reported Zalora and The Iconic net revenue rising 22.4% (or a slightly higher 22.5% currency-neutral) while the gross profit margin increased by 3.6 percentage points to 40.5%. Zalora saw the successful launch of new brands in the quarter, including Adidas, Hollister & Co and Hugo Boss, while The Iconic on-boarded 28 new retail brands and over 60 new marketplace brands.

The company also said that its Lamoda saw net revenue growth of 39.3%, which translated to 19.1% currency-neutral, despite continued intense competition and the unseasonably cold weather impacting the launch of the SS17 range. During the quarter, Lamoda rolled out more customer pick up points, and became the official Russian e-commerce licensee for FIFA for the 2017 Confederation Cup and the 2018 World Cup to be held in Russia.

Meanwhile Dafiti delivered revenue growth of 17.3% and on a currency-neutral basis, it was up 7.7% with further strong marketplace growth in all countries, driven by the continued focus on assortment and its pricing strategy.

The partnership in the Middle East with Emaar Malls acquiring 51% of Namshi was successfully completed in August for $151 million in cash. And the partnership in the Philippines with Ayala acquiring a 49% stake in Zalora Philippines through a primary investment was also successfully completed last month.

The company said it is is looking forward to the strategic and operational benefits both of these partnerships will bring to the businesses in these two regions.

Copyright © 2019 FashionNetwork.com All rights reserved.