Global Fashion Group sales rise and losses narrow

ZALORA - ZALORAYA global fashion group

Global Fashion Group posted rising sales during its first half following the recent IPO.

Sales increased 15.9% to €603.2m (£551.1m) for the six months to June 30 as losses narrowed during the same period from €30.3m (£27.6m) to €28.8m (£26.3m).

The fashion retailer’s gross profit increased 39.7% to €239.4m (£218.7m) during the first half; however, this is down slightly compared to the same period the previous year when it increased 40.3%, albeit to €215.3m (£196.7m).

The online fashion platform which owns THE ICONIC, ZALORA, dafiti and lamoda across Latin America, Asia Pacific and CIS said it remains “confident in its outlook for the year” and expects revenue is expected to exceed €1.3bn, whilst “continuing to make further progress towards Adjusted EBITDA breakeven”.

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