Global Fashion Group saw a strong Q1 as it attracted more customers to its websites and enjoyed a solid recovery in repeat customers. It also attracted more brands and marketplace net merchandise value almost doubled.
H&M reported its Q1 results on Wednesday and swung to a loss, but it said sales are recovering in March. Yet perhaps even more newsworthy was its ongoing effort to overcome its problems in China and “regain trust” there.
Zalora owner Global Fashion Group said Monday that it delivered a strong Q1 with year-on-year net merchandise value rising an impressive 22% to €341m on a constant currency basis, with active customers up 14.5% to 11.5m.
Southeast Asian fashion startup Zilingo said it has raised $226 million in its latest funding round from existing backers such as Sequoia Capital, with Singapore’s Temasek Holdings joining as a new investor.