Global Fashion Group S.A.

GFG

Equity

ISIN LU2010095458 / Valor 48524147

Xetra (2026-09-11)

EUR 0.45+0.45%

Global Fashion Group S.A.
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About company

Global Fashion Group S.A., headquartered in Luxembourg, is a publicly traded e-commerce company that operates regional online fashion and lifestyle marketplaces in growth markets. The business offers apparel, footwear, accessories and home goods through local websites and mobile apps, combining direct retail inventory with third‑party marketplace listings and partnerships with international and local brands. Its revenue sources include merchandise sales, marketplace commissions and ancillary services such as logistics and payments, while operational focus centers on merchandising, customer acquisition and fulfillment to scale online fashion in markets with rising digital penetration.

Summarized from source with an LLMView SourceSector: Finance

Top‑line & transaction dynamics

Q2 2026 NMV €263m, down 0.6% yoy (ccy). Average Order Value rose 5.3% yoy, offsetting a 5.6% decline in Orders. Order Frequency increased 1.8% while Active Customers fell 5.5% yoy.

Profitability & margins

H1 2026 Adjusted EBITDA improved by €9m to €1m, a 2.8ppt margin expansion to 0.3% — GFG’s first profitable H1 within its current footprint. Q2 Gross Margin was stable at 47.7% as higher Marketplace and Platform Services participation offset weaker Retail Margins.

Cash flow & liquidity

Q2 Normalised Free Cash Flow was €2m (up €3m yoy). On an LTM basis NFCF improved €28m to €(19)m. Pro‑Forma Cash: €105m; Pro‑Forma Net Cash: €89m at quarter close.

Regional performance

ANZ: Q2 NMV +3.0% yoy (ccy) with Active Customer growth. LATAM: Q2 NMV ‑0.6% yoy amid macro headwinds and competitive promos. SEA: Q2 NMV ‑10.3% yoy. All three regions were profitable in H1 and expanded Adjusted EBITDA margins year‑on‑year.

Cost discipline & operations

GFG reduced its cost base during H1 by more than the decline in NMV, improving unit economics. Management highlights scaling of Marketplace and Platform Services and broader AI adoption as drivers of efficiency and resilience.

Guidance

Full‑year 2026 NMV guidance narrowed to a range of ‑4% to 0% yoy (ccy), implying €1,050–1,090m (FX adjusted). Adjusted EBITDA guidance narrowed to €18–25m, with Q4 trading highlighted as important for the outcome. Summarized from source with an LLMView Source

Key figures

27.5%1Y

23.1%3Y

-95.9%5Y

Performance

63.6%1Y

76.6%3Y

77.2%5Y

Volatility