Global Fashion Group breaks even as online shift boosts sales

Global Fashion Group website

Global Fashion Group recorded its second quarter of growth this year, as the ecommerce shift in fashion and lifestyle shopping “continues to accelerate”.

The group, which operates fashion marketplaces such as The Iconic and Lamoda in emerging markets, expects to break even for the second quarter in a row with an adjusted EBITDA of €9.5m (£8.6m).

Sales in the quarter jumped 11.3% to €336.1m (£302.9m) and net merchandise value grew 22.8% year on year to €488.3m (£440.2m).

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