×
1 341
Fashion Jobs
ESTÉE LAUDER
Operations Support Manager
Permanent · Petersfield
ESTÉE LAUDER
jo Malone London - Omnichannel Operations Manager
Permanent · London
ESTÉE LAUDER
Multi-Brand - Business Manager, 37.5 Hours - Oxford - John Lewis
Permanent · Oxford
V. F. CORPORATION
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Bath - 28 Hours - Permanent
Permanent · Bath
CONVERSE
Strategic Account Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
ESTÉE LAUDER
Tom Ford Beauty - Digital Marketing Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 6 Hours - Permanent
Permanent · Edinburgh
Advertisements
Published
Jul 10, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Post-crisis recovery under way at Global Fashion Group, Q2 is strong

Published
Jul 10, 2020

Global Fashion Group released preliminary Q2 figures on Friday and said that it expects the period to be its second profitable quarter on an adjusted EBITDA basis, as well as its first cash flow-positive three months.


The Iconic


The positive development comes as a result of “strong customer demand recovery since the end of April, and the company’s strategic response to the Covid-19 pandemic,” it said.

It’s expecting the quarter to end with net merchandise value (NMV) growth on a constant currency basis of above 20%, despite the virus impact in April, driven by more than two million new customers.

The company operates webstores such as The Iconic, Zalora, Dafiti and La Moda in Asia Pacific, Latin America and Eastern Europe. They sell own labels, as well as major brand names under partnership deals from Mango to Dorothy Perkins, Lee, Topshop, Guess and many more.

It’s predicting its adjusted EBITDA profitability will be due to a strong gross margin and “significantly better marketing efficiency”.

The company also said it has seen improved Marketplace share of more than 30% (up from 19% in Q2 2019) and around 90% Marketplace NMV growth “as a result of category mix shift and increased Marketplace SKU share”.

The company added that profitability, alongside disciplined working capital management and capital expenditure, resulted in strong cash generation and a pro-forma cash balance at 30 June of around €260m, up €50m from the end of March.

Co-CEOs Christoph Barchewitz and Patrick Schmidt said: “This strong financial performance is a direct result of the agility and adaptability of the GFG teams around the world. Over the last few months, customer acquisition, Marketplace share growth and brand relationships have been accelerated. In this way, we have continued to execute against our strategic priorities with a focus on capturing the significant fashion and lifestyle e-commerce opportunity in our markets.”

They added that the firm saw “a strong recovery in sales from late April", with order intake up over 30% since the start of May compared to the same period last year. This was driven by “strong performances in CIS and LATAM, while APAC saw more moderate growth as a result of soft trading in Australia”.

Copyright © 2021 FashionNetwork.com All rights reserved.