Fashion

NMV of Luxembourg fashion house GFG increased 19.8% in Q4 FY21


Global Fashion Group (GFG), a leading online fashion and lifestyle destination, delivered a net merchandise value (NMV) of €758 million in the fourth quarter (Q4) of fiscal year 2021 (FY21). , up 19.8% over the same period. This was driven by an increase in average order value, as customers bought more items, and countries with higher average selling prices grew the fastest.

The market grew 42% y/y, reaching 38% NMV. This, coupled with GFG’s broadly stable retail margin, helped boost gross margin by 2 percentage points to 46%. One-time COVID costs from running the fulfillment center along with some additional promotional activities and a weaker trading environment in LATAM mean adjusted EBITDA of €21 million.

“During the second half of 2021, our trading activity on LATAM has come under pressure from weakening consumer sentiment, especially in our largest market, Brazil. This is a large and attractive market and we have a well-established multi-brand platform. We have a clear plan to unlock the potential that includes a new user interface for customers and steps to improve shipping and returns,” GFG said in a press release.

Global Fashion Group (GFG), a leading online fashion and lifestyle destination, delivered a net merchandise value (NMV) of €758 million in the fourth quarter of fiscal 2021, up 19.8% from with the same period. This was driven by an increase in average order value, as customers bought more items, and countries with higher average selling prices grew the fastest.

“Our people are at the heart of our business. We stand with all those affected and support the international community to come together to end the conflict in Ukraine peacefully. Our priority is 1,000 of our colleagues in Ukraine and providing them with essential humanitarian and financial support. We continue to monitor the situation closely and will adjust our approach to support all of our people and businesses in the CIS as best we can.” Christoph Barchewitz and Patrick Schmidt, Co-CEOs of GFGspeak.

“We pride ourselves on the continued agility and efficiency of our global team in delivering results for our financial year 2021. Amid new COVID-19 variants and slow vaccine rollout in most of GFG’s markets, we continue to deliver growth across all of our customer metrics including frequency Orders increased by 9% and increased by 18% in NMV per active customer. . Combined with 24% NMV growth and €14 million adjusted EBITDA, this is a testament to our localization expertise. We remain confident in executing on our strategic priorities to continue our journey to becoming the leading online fashion and lifestyle destination in growing markets,” explains Barchewitz.

During January and February 2022, the group increased NMV by 23% on a constant currency basis and, with the exception of CIS, increased by 13% NMV. The high level of uncertainty in the CIS regarding future customer demand, the supply of imported products, and potential operational, financial or legal constraints means that the company is currently unable to provide guidance. for fiscal 2022. For the other three regions, the company expects the demand environment seen in H2 2021 to continue through the first six months of 2022 and gradually improve into H2 2022, the statement added.

Fiber2 fashion news desk (RR)





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