The group has 16.2 million active customers, down 4.6% year-on-year due to lower demand and reduced marketing investment. NMV per active customer increased 23.3% due to higher order frequency, up 5.6%, and average order value, up 23.4%. AOV is mainly driven by inflation and higher full price structure, commodity quantity and country structure. The NMV market continued to expand faster than retail and grew 24.2% y/y, reaching 39.4% of NMV.
Global Fashion Group, the leading online fashion and lifestyle destination in growing markets, delivered a net merchandise value (NMV) of €792.1 million in Q2 2022, an increase of 11, 8% over the same period last year (yoy). The brand reported 10.8% revenue growth for the second quarter, with adjusted gross margin and improved EBITDA.
“We delivered our results in difficult circumstances with all regions of the GFG facing different volatile environments, to which our team has adapted well. Despite the challenges of the quarter, we continued to execute on GFG’s strategic priorities. Our market share has grown to almost 40% as NMV, we continue to have a large active customer base of over 16 million and in Q2 our customers fulfilled almost 12 million orders. We remain confident in our strategy and long-term opportunity as we continue to grow our business as the leading online fashion and lifestyle destination in emerging markets.” Christoph Barchewitz and Patrick Schmidt, co-CEOs of GFG, speak.
For the full year, the group is expected to deliver NMV growth of 10-15%, corresponding to 2.9 to 3.0 billion euros, or 1.9 billion euros in revenue, all on a rolling basis. currency, and the adjusted EBITDA rate is 3.0 percent to 5.0 percent. Capex investments will be around €65 million in fiscal year 2022. All ranges provided are based on exchange rates at the end of the second quarter except for an expected RUB to EUR exchange rate of 70, The company said in a press release.
Across ANZ, SEA and LATAM, the company expects similar dynamics to the first half of the year and no longer peaks in the pandemic, which is offset by a tougher macroeconomic backdrop. There are several scenarios for the CIS and the outlook is based on a more conservative view on both sales and profits.
Fiber2 fashion news desk (RR)
