×
451
Fashion Jobs
JOSEPH LTD
Full Time Menswear Supervisor (Mayfair)
Permanent · LONDON
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
RETAIL PERM
Beauty Salon Manager
Permanent · LONDON
TOO FACED
Business Manager - Liverpool - New Mersey Retail pk (Speke), UK
Permanent ·
TOO FACED
Business Manager - Lisburn Sprucefield sc, UK
Permanent ·
TOO FACED
Business Manager - Stockton on Tees Teeside, UK
Permanent ·
TOO FACED
Business Manager Tamworth Ventura RP, UK
Permanent ·
TOO FACED
Business Manager - Cork Half Moon st., UK
Permanent ·
Advertisements

Global Fashion Group says it is making progress towards profit

By
Reuters
Published
today Aug 21, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Global Fashion Group (GFG), the online fashion retailer focused on emerging markets, said it is working hard to reduce its losses as it reported second-quarter sales rose a currency-adjusted 16.5%.


Global Fashion Group



Shares in GFG, which runs fashion websites in Russia, Latin America and south-east Asia and which listed on the Frankfurt stock exchange last month, rose 4%.

GFG said it was making progress towards break-even on its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA), after its loss ticked up to 3.2 million euro ($3.55 million) in the second quarter.

“We are well on track,” co-chief executive Christoph Barchewitz told journalists, noting that the company had already reached profitability in Latin America and Australia in 2018, but it would take more time in south-east Asia.

Revenue came in at 343 million euros, while net merchandise value - the value of products ordered on the GFG marketplace - rose 22.7% on a constant currency basis to 449 million euros.

GFG, set up by Sweden’s Kinnevik and Germany’s Rocket Internet, trimmed its forecast for 2019 capital expenditure to 80 million euros from a previous 90-95 million euros as it shifted some spending on a new warehouse in Brazil to 2020.

Barchewitz said he was not too concerned about a 2.2% fall in average order value to 50.5 euros, saying it was more important to focus on order frequency, which was up 8.8%.

“There is certainly a tradeoff between frequency and average order value,” he said, but added: “The economic model is working at these order values.”

Europe’s biggest online fashion site Zalando, on which GFG was modelled, has also seen a fall in average order value as customers shop more frequently from their smartphones, but buy less each time, denting its profitability.

© Thomson Reuters 2019 All rights reserved.