The Global Fashion Group is growing strongly

Global Fashion Group, which was founded by Rocket Internet and others, increased its net merchandise value to almost two billion euros in the 2020 financial year.

The goals announced by Global Fashion Group today are ambitious. After the online fashion retailer with a focus on emerging markets such as Russia, Brazil and Indonesia was able to increase its net merchandise value (NMV) by ten percent to just under two billion euros in the past financial year, it is aiming for a net merchandise value of 2.4 billion euros for the next financial year. Turnover is set to increase by ten percent to a good 1.5 billion euros. In the financial year just ended, it amounted to 1.36 billion euros. EBITDA amounted to 16.4 million euros.

The Global Fashion Group operates in a similar way to Zalando and is currently active in 17 countries. It is benefiting in particular from the greater demand for fashion online, as many stores have closed due to coronavirus. The group is listed in Germany - even though it does not operate a store here. However, Rocket Internet is one of the main shareholders.

2020 was the first profitable year for the Global Fashion Group, at least on an EBITDA basis. "We are well positioned for the next growth phase and to achieve our goal of becoming a 10 billion euro NMV business in the next seven to nine years," say the two co-founders Christoph Barchewitz and Patrick Schmidt.