Global Fashion Group, the internationally renowned e-tailer, has recorded growth in revenues and gross profits for this year’s first quarter.
The e-tailer saw its Q1 revenue surge by 26 per cent to clock an impressive £258.42 million, while its gross profit was £113.3 million at a year-on-year (Y-o-Y) jump of 20.5 per cent.
The Group, during the quarter, saw its net merchandise value shoot up by a good 37.8 per cent to post £386 million.
Notably, its EBITDA rose by 3.8 per cent Y-o-Y to -11.5 per cent.
Elated over good numbers, Christoph Barchewitz and Patrick Schmidt, Co-CEOs, GFG said that with 1.5 million new customers and strong performance in markets where restrictions have been lifted, Global Fashion Group is hopeful of delivering on its ambition to build a £8.6 billion net merchandise value business.
They further added that as e-commerce adoption continues at pace, the Group gained from a broad view of how customers are responding across four very diverse markets.
Currently in its 10th year, Global Fashion Group, the Singapore-based e-tailer, is known for its apparels, shoes and fashion accessories, amongst others.