Home>Textile News>Global Fashion Group NMV value up by 22.7% in Q3 2018

Global Fashion Group NMV value up by 22.7% in Q3 2018

Published: Nov 26, 2018

Courtesy: Global Fashion Group

Courtesy: Global Fashion Group


Global Fashion Group (GFG), the leading online fashion and lifestyle destination for high growth markets, showed continued top line growth with net merchandise value (NMV) of €289.5 million, increasing by 22.7 per cent on constant currency basis and 9.2 per cent in absolute EUR terms for Q3 2018.  The group revenue for the quarter was €264.6 million.

 


The company saw significant growth in marketplace sales throughout 2018, specifically in Russia/CIS, Argentina and Australasia, bringing the marketplace contribution to NMV to approximately 15 per cent year to date, said a press release from the company.

 

The company also reached 11 million active customers, adding 1 million since the start of the year and representing year on year (YoY) growth of 15.8 per cent. Net orders grew by 25.1 per cent, reflecting the continued secular growth in online retail in its end-markets and increasing order frequency of its customer base.

 

In the Latin America region, NMV of €91.5 million in the quarter represented a 14.4 per cent uplift YoY on a constant currency basis. Revenue was €82.3 million, growing 13.6 per cent YoY on a constant currency basis.

 

In the Russia / CIS region, NMV of €91.7 million increased by 20.8 per cent on a constant currency basis, driven by accelerated marketplace growth. Revenue was €85.0 million and demonstrated constant currency growth of 9 per cent.

 

In the Australasia region, NMV of €65.0 million grew by 38.6 per cent on a constant currency basis. Revenue was €55.2 million, 35.3 per cent growth from last year on a constant currency basis.

 

In the SEA region, NMV of €41.4 million in the quarter represented 27.8 per cent uplift YoY, again on a constant currency basis. Revenue was €38.6 million, growing 22.7 per cent YoY on a constant currency basis.

 

GFG’s closing cash position at the end of the quarter was €108.8 million. (PC)

 

Source:Fibre2Fashion News Desk – India

Keywords: fashion , online fashion