Global Fashion Group (GFG), a leading online fashion and lifestyle destination, posted 1.8 per cent revenue decline to €336.1 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to the revenue of €342.4 million in same period last year. Goup’s net merchandise value (NMV) for the quarter grew to €488.3 million (Q2 FY19: €449.4 million).
Global Fashion Group (GFG), a leading online fashion and lifestyle destination, posted 1.8 per cent revenue decline to €336.1 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to the revenue of €342.4 million in same period last year. Goup's net merchandise value (NMV) for the quarter grew to €488.3 million (Q2 FY19: €449.4 million).#
“Another strong quarter for GFG. Fashion & lifestyle e-commerce continues to accelerate across our markets helping us execute against our strategic priorities even faster. While focusing on health and safety, we delivered our second profitable quarter, with record growth across active customers, gross margin and marketplace,” Christoph Barchewitz and Patrick Schmidt, co-CEOs of GFG, said in a press release.
Global Fashion Group (GFG), a leading online fashion and lifestyle destination, posted 1.8 per cent revenue decline to €336.1 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to the revenue of €342.4 million in same period last year. Goup's net merchandise value (NMV) for the quarter grew to €488.3 million (Q2 FY19: €449.4 million).#
Gross profit for the quarter was €143.5 million (€141.3 million). Group incurred a loss for the period of €14.3 million (€9.3 million). Adjusted EBITDA for Q2 FY20 was a loss making of €3.2 million compared to earnings of €9.5 million in Q2 FY19.
Global Fashion Group (GFG), a leading online fashion and lifestyle destination, posted 1.8 per cent revenue decline to €336.1 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to the revenue of €342.4 million in same period last year. Goup's net merchandise value (NMV) for the quarter grew to €488.3 million (Q2 FY19: €449.4 million).#
During the reported quarter, group saw record 2.5 million new customers shopping across its platforms, as the consumer shift from offline to online continued to gained traction. The acceleration of GFG’s marketplace model allowed even more brand partners to build their presence online when much of brick & mortar retail was closed. This resulted in GFG’s top-30 brands tripling their marketplace NMV year-over-year.
ALCHEMPro News Desk (JL)
marketing@alchempro.com
