Global Fashion Group

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Global Fashion Group SA

logo
legal form Société anonyme
ISIN LU2010095458
founding 2011
Seat Senningerberg , Niederanven ,LuxembourgLuxembourg
management Patrick Schmidt (co-CEO) Christoph Barchewitz (co-CEO) Cynthia Gordon (Chairman)
Number of employees 9,500
sales 1.16 billion euros (2018)
Branch Online clothing store
Website www.global-fashion-group.com

Global Fashion Group (GFG) is a company founded in 2011 by the Swedish investment company Kinnevik and the German Rocket Internet for online clothing retailing in emerging countries, based in Luxembourg . He owns Lamoda in Russia, Namshi in the Middle East, Dafiti in South America and Zalora in Southeast Asia. GFG sells international brands such as Nike , Mango , Asics , Tommy Hilfiger and own brands such as Colcci from Dafiti or Edge Street from Lamoda. GFG is active in a total of 17 countries in the Asia-Pacific region, Latin America and Eastern Europe.

history

GFG employs around 9,500 people, around 40 percent of whom work in the fulfillment area. Some of the goods ordered are delivered by the company's own fleet; customers typically pay in cash on delivery. The Indian subsidiary Jabong was sold to Myntra, a subsidiary of the Indian eCommerce company Flipkart , for $ 70 million in 2016 .

In April 2017, Cynthia Gordon, a Kinnevik board member, was named GFG's new chairman. In February 2018, Patrick Schmidt and Christoph Barchewitz jointly succeeded GFG CEO Romain Voog.

On July 2, 2019, the Global Fashion Group was listed on the Frankfurt Stock Exchange .

Business figures

In 2015, GFG's sales rose by 48 percent to 930 million euros, with the company generating an operating loss of 275 million euros. In a financing round in 2015, GFG received 150 million euros, including 49 million euros from Rocket Internet. In 2016, GFG received EUR 330 million in a further financing round. In the 2017 financial year, GFG achieved sales of 1.1 billion euros, an increase of over 20 percent compared to the previous year. The operating loss fell from 131 million euros to 98 million euros in the same period.

In the first half of 2018, GFG increased its sales by 19.6% to 534.7 million euros. The operating loss was 39 million euros. In the entire 2018 financial year, GFG's turnover was 1.16 billion euros and the operating loss was 202 million euros. In June 2019, the company had 11.5 million active customers.

Individual evidence

  1. ↑ GFG Management Board
  2. ↑ a b Eric Auchard: Global Fashion Group hires ex-Amazon.com exec as CEO. reuters.com, April 8, 2015, accessed September 6, 2016.
  3. ↑ https://www.onvista.de/news/rocket-internet-aktie-boersenkandidat-global-fashion-group-kann-verluste-2018-halbieren-195353185 Rocket Internet share: Stock exchange candidate Global Fashion Group can halve losses in 2018 , accessed on March 1, 2019
  4. ↑ FashionNetwork.com, Sandra Halliday: Global Fashion Group: Higher quarterly sales despite smaller margins . In: FashionNetwork.com . ( fashionnetwork.com [accessed April 18, 2018]).
  5. ↑ Global Fashion Group: Money for the Zalando clone. In: Handelsblatt. April 27, 2016, accessed July 26, 2019 .
  6. ↑ a b Global Fashion Group also has to make compromises. In: Frankfurter Allgemeine Zeitung. July 1, 2019, accessed July 26, 2019 .
  7. ↑ EXCLUSIVE INTERVIEW with GFG: The future of fashion retail in the emerging markets. In: Retail in Asia. February 7, 2018, accessed September 18, 2019 .
  8. ↑ THE SHAREHOLDER: Rocket Internet: A bang at Global Fashion Group - what does that mean for investors? Retrieved July 30, 2019 (German).
  9. ↑ Rockets GFG sells Zalando clone Jabong for only $ 70 million. July 26, 2016, accessed July 26, 2019 .
  10. ↑ Rocket's Global Fashion cuts losses despite tough markets. In: Reuters. April 5, 2017, accessed July 31, 2019 .
  11. ↑ it-times: Rocket Internet: CEO of the online fashion retailer Global Fashion Group has to leave after a short term in office. Retrieved July 22, 2019 .
  12. ↑ finanzen net GmbH: Global Fashion Group: minus ten percent on the first day of trading - a "flop" with an announcement. In: www.boerse-online.de. July 2, 2019, accessed on July 7, 2019 .
  13. ↑ Miriam Schröder: Money for the Zalando clone. , P. 2. In: Handelsblatt . April 27, 2016, accessed September 6, 2016.
  14. ↑ Michael Pohlgeers: Rocket Internet: 150 million euros for the Global Fashion Group. Retrieved on July 21, 2019 (German).
  15. ↑ Financing round of 330 million euros for global fashion. In: lto.de. Retrieved September 18, 2019 .
  16. ↑ Fashion participation of Rocket Internet cracks sales billion . In: Gründerszene Magazin . April 10, 2018 ( gruenderszene.de [accessed April 12, 2018]).
  17. ↑ Zalando does not want to sell to Amazon, Hermes, Global Fashion Group, Alibaba, Farfetch, Prime Video. In: etailment.de. September 10, 2018, accessed September 11, 2018 .
  18. ↑ Weak stock market debut of the Global Fashion Group. In: faz.net. July 2, 2019, accessed July 8, 2019 .
  19. ^ Jonas Jansen: Global Fashion Group: Rocket Internet's next listing candidate . ISSN  0174-4909 ( faz.net [accessed July 22, 2019]).