×
30 991
Fashion Jobs
COTY
Technical Packaging Manager
Permanent · Cockeysville
NORDSTROM
Loss Prevention Security Ambassador San Leandro Rack
Permanent · San Leandro
NORDSTROM
Loss Prevention Agent Green Hills
Permanent · Nashville
NORDSTROM INC
Assistant Loss Prevention Manager – 12th st. Rack
Permanent · Washington, D.C.
NORDSTROM INC
Senior Operations Manager 2 - San Bernardino, ca
Permanent · San Bernardino
NORDSTROM
Loss Prevention Security Ambassador Chandler Festival Rack
Permanent · Chandler
NORDSTROM
Loss Prevention Security Ambassador University Crossing Rack
Permanent · Orem
NORDSTROM
Loss Prevention Security Ambassador (Part-Time And Full-Time) - Pentagon Center Rack
Permanent · Arlington
NORDSTROM INC
Asset Protection Security Ambassador- The Oaks
Permanent · Thousand Oaks
KOHLS
Full-Time Loss Prevention Service Specialist
Permanent · Campbell
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Hoover
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Council Bluffs
KOHLS
Full-Time Loss Prevention Service Specialist
Permanent · Albuquerque
KOHLS
Full-Time Loss Prevention Officer
Permanent · Las Vegas
KOHLS
Full-Time Loss Prevention Officer
Permanent · Albuquerque
KOHLS
Senior Product Manager, Data Analytics (Remote)
Permanent · Menomonee Falls
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Seekonk
L'OREAL GROUP
sr. Manager - Omni Shopper Marketing - IT Cosmetics
Permanent · Jersey City
L'OREAL GROUP
sr Analyst-Product Info Management
Permanent · Clark
HUGO BOSS
Payroll Manager
Permanent · New York
TJX CORPORATE
Sales Audit Financial Coordinator
Permanent · Marlborough
BATH & BODY WORKS
Social Compliance Manager
Permanent · New Albany
Published
Mar 1, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Global Fashion Group hails rising sales and key profit milestone

Published
Mar 1, 2021

Global Fashion Group’s Q4 results on Monday showed the company continuing to grow its sales and reaching its first-ever positive adjusted EBITDA figure for the full year.


Global Fashion Group



The owner of the Dafiti, Lamoda, Zalora and The Iconic brands said its net merchandise value (NMV) rose 28.9% at constant currency, or 7.4% reported to €594.5 million with 61% of that being generated via its apps. 

And Marketplace NMV grew by 89%, achieving 32% participation compared to 22% a year earlier. 

Actual revenue may have dipped 0.5% to €415.6 million in absolute terms, but on a constant currency basis, it was up 19%. The gross margin rose to 44% from 40.4% and its active customer growth was 24.6%. Also pleasing was the fact that NMV per active customer was up 0.9% to €120.30. 

The EBIT loss was €6 million, although this was much better than -€31.6 million a year ago. The net loss was €16.9 million, again an improvement on the prior Q4’s €51.2 million deficit. But importantly, adjusted EBITDA was positive to the tune of €19.3 million, also better than the tiny +€0.7 million of a year ago.

For the full year (at constant currency) NMV increased by 25.7% to €1.958 billion and as mentioned, it was also the first adjusted EBITDA positive year with €16.4 million, and a margin of 1.2%.

GFG said the SEA, CIS and LATAM regions all saw NMV growth of more than 30%, along with strong improvements in gross margin, driven by that active customer numbers surge. Growth in ANZ also continued to recover, with NMV up 18.2% in Q4, driven by improved inventory levels and its biggest ever day on Black Friday, along with strong December sales.

It saw had another record number of orders — 13.3 million in the quarter — up 28.8% year-on-year, with a marginal improvement in average order value. Customer frequency was 2.6 orders per year.

Co-CEOs Christoph Barchewitz and Patrick Schmidt said the positive adjusted EBITDA for the year was a “milestone and our continued like-for-like NMV growth is a testament to our leading position as the only online fashion and lifestyle-focused platform operating at scale in our markets, where we have continued to act as brands’ partner of choice. Performance this quarter was driven by a record increase in active customers, as e-commerce adoption continues to accelerate. We are well positioned for the next phase of growth and to deliver on our ambition towards becoming a €10 billion NMV business in the next seven-to-nine years.”

And in 2021, GFG expects to grow NMV by over 25%, delivering around €2.3 billion to €2.4 billion in NMV, and around €1.5 billion of revenue, all on a constant currency basis. It also expects adjusted EBITDA to improve modestly on 2020, “which allows flexibility to take the growth opportunity from greater online penetration in our markets”. However, these forecasts assume no significant deterioration in the Covid-19 impact across the regions GFG or its suppliers operate in.

Copyright © 2021 FashionNetwork.com All rights reserved.