ncrease in net revenue of Global Fashion Group for Q3FY 17

Increase in net revenue of Global Fashion Group for Q3FY 17

The fashion retailer, Global Fashion Group (GFG) has announced its third quarter financial results for the year 2017. It operates e-commerce fashion sites in emerging markets, has reported a growth in its net revenue to 256.4 million Euro from 215.6 million Euro in the same quarter previous year. It recorded a jump of 19 per cent as compared to the last year.

The EBITDA loss adjusted, improved by 2.8 percentage points to (12.7 per cent of net revenue in the third quarter). Adjusted EBITDA loss in the same quarter last year was 33.3 million Euro.

The group also noted an increase in net merchandise value (NMV) which includes marketplace sales. During the quarter, its NMV inclined by 22.2 per cent on a constant currency pro-forma basis to 265.1 million Euros.

The Global Fashion’s regional businesses includes Lamoda, Dafiti, Namshi, Zalora and The Iconic recorded good performance in this quarter. Lamoda recorded a 12.7 per cent increase in revenue and 16.7 per cent increase in NMV in the current quarter. Dafiti and Zalora also noted a positive NMV and surge in net revenue during the third quarter.

Additionally, the Global Fashion completed the acquisition of 51 per cent of Namshi (an online fashion retailer) shares for a consideration of 151 million US Dollar.

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