The Global Fashion Group is growing strongly

The Global Fashion Group, founded by Rocket Internet among others, was able to increase its net merchandise value to almost two billion euros in the 2020 financial year.

These are ambitious targets that Global Fashion Group announced today. Having increased its net merchandise value (NMV) by ten per cent to just under two billion euros in the last financial year, the online fashion retailer, which focuses on emerging markets such as Russia, Brazil and Indonesia, is aiming for a net merchandise value of 2.4 billion euros in the next financial year. Sales are expected to increase by ten percent to a good 1.5 billion euros. In the fiscal year just ended, it was 1.36 billion euros. Ebitda was 16.4 million euros.

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

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