Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Soaring revenues cut losses at Global Fashion Group



Global Fashion Group (GFG), the ecommerce company behind retailers including Zalora, The Iconic and Dafiti, has announced an 18.7% rise in revenues to €1.16bn (£1bn) for the full year 2018, cutting its adjusted EBITDA loss to €49.8m (£43m) for the period.

Adjusted EBITDA losses for 2017 stood at €98m (£84.68m), and the improvement was attributed to increased profitability across the business, thanks to operational improvements and marketing efficiencies, which reduced marketing costs as a percentage of revenue.

While the overall business’ adjusted EBITDA was negative, the Latin American section of the business and the Australian ecommerce site The Iconic achieved positive EBITDA – although exact figures were not disclosed.

The number of customers shopping with GFG brands rose to 11.4m at the end of 2018, with the amount spent per customer also increasing.

Commenting on the results, Christoph Barchewitz and Patrick Schmidt, co-chief executives, said: “It has been a year of significant progress for GFG. We continued to execute our growth strategy, building new and strengthening existing brand partnerships as well as enhancing our inspiring and seamless customer experience.”

GFG also announced that it has finalised the sale of Middle Eastern ecommerce site Namshi for €114m (£98.5m) to Dubai’s Emaar Malls, which already owned 51% of the company. 



Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.