Credits: Image: Global Fashion Group
Global Fashion Group (GFG) reported a third quarter net merchandise value decrease of 19.4 percent to 283.9 million euros and revenue decrease of 25 percent to 184.5 million euros. The company reported gross margin of 42.1 percent and adjusted EBITDA margin of negative 9.7 percent. Active customers decrease 19.1 percent during the quarter under review and order frequency decreases 3.8 percent. Commenting on the quarterly financial update, Christoph Barchewitz, CEO of GFG, said in a statement: “Despite prolonged headwinds across our markets and the sector impacting our Q3 results, we remain resolute in executing our strategy. This includes our transition to a robust platform business and emphasis on driving technology-enabled efficiency through reducing costs and complexity.”
The group’s expectations for the full year include a 16 to 18 percent decrease in NMV on a constant currency basis to 1.2 to 1.3 billion euros, 0.8 billion euros of revenue and negative 9 to 7 percent adjusted EBITDA margin.

Global Fashion Group: GMV and revenues decline in Q3

Global Fashion Group S.A.: GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028
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Today at 11:49 am
EQS-News: Global Fashion Group S.A. / Key word(s): Miscellaneous
Global Fashion Group S.A.: GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028
24.08.2023 / 17:47 CET/CEST
The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028
Luxembourg, 24 August 2023 – Global Fashion Group S.A. ("GFG" or the "Company") hereby announces that it has successfully repurchased outstanding convertible bonds due 2028 issued by GFG (ISIN: DE000A3KMT51) (the "Bonds"), via a modified Dutch auction procedure announced on 22 August 2023. At the close of the modified Dutch auction procedure, the Company has agreed to purchase Bonds representing EUR 27.0 million in aggregate principal amount. The purchase price per EUR 100,000 principal amount will be EUR 73,000. In addition, the Company will pay interest accrued on the Bonds from and including the immediately preceding interest payment date to but excluding the settlement date of the repurchase, which amounts to EUR 574.05 per Bond. Following the settlements of this EUR 27.0 million in aggregate principal amount repurchase expected to occur on or around 31 August 2023 and the previously announced repurchase of EUR 74.6 million in aggregate principal amount expected to occur on or around 25 August 2023, EUR 178.3 million in aggregate principal amount of Bonds will remain outstanding and EUR 196.7 million in aggregate principal amount of Bonds will be held by the Company in treasury. GFG continues to look at opportunities to reduce its outstanding Bonds. Disclaimer
This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States (including its territories and possessions) or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, any securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state within the United States and may not be offered or sold in the United States, unless registered under the Securities Act or offered and sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. There will be no public offer of the securities referred to herein in the United States. The offer referred to herein when made in member states of the European Economic Area ("EEA" and each member state, a "relevant member state"), is only addressed to and directed at persons who are qualified investors (the "Qualified Investors") as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "Prospectus Regulation"). In the United Kingdom, this document is only being distributed to and is only directed at Qualified Investors within the meaning of the Prospectus Regulation as it forms part of the United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA) who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) fall within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc. ), and (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on (i) in the United Kingdom by persons who are not Relevant Persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Forward-looking Information
This announcement contains forward-looking statements. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in this announcement, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this announcement or the underlying assumptions. About Global Fashion Group
Global Fashion Group is the leading fashion and lifestyle destination in LATAM, SEA and ANZ. From our people to our customers and partners, we exist to empower everyone to express their true selves through fashion. Our three ecommerce platforms: Dafiti, ZALORA and THE ICONIC connect an assortment of international, local and own brands to over 800 million consumers from diverse cultures and lifestyles. GFG’s platforms provide seamless and inspiring customer experiences from discovery to delivery, powered by art & science that is infused with unparalleled local knowledge. Our vision is to be the #1 fashion & lifestyle destination in LATAM, SEA and ANZ, and we are committed to doing this responsibly by being people and planet positive across everything we do. (ISIN: LU2010095458)
For more information visit: www.global-fashion-group.com
24.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

Global Fashion Group S.A.: GLOBAL FASHION GROUP SUCCESSFULLY REPURCHASES PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028

Global Fashion Group S.A.: GLOBAL FASHION GROUP AGREES TO REPURCHASE A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028 (ISIN
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EQS-Ad-hoc: Global Fashion Group S.A. / Key word(s): Miscellaneous
Global Fashion Group S.A.: GLOBAL FASHION GROUP AGREES TO REPURCHASE A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028 (ISIN: DE000A3KMT51)
18-Aug-2023 / 22:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. Disclosure of an inside information according to Art. 17 Sec. 1 of the Regulation (EU) No. 596/2014 (Market Abuse Regulation – MAR)
GLOBAL FASHION GROUP S.A.: GLOBAL FASHION GROUP AGREES TO REPURCHASE A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028 (ISIN: DE000A3KMT51)
Luxembourg, 18 August 2023 – Global Fashion Group S.A. (the “Issuer” or “GFG”) announces that it has agreed today to repurchase EUR 74.6 million in aggregate principal amount of its outstanding convertible bonds due 2028 (ISIN: DE000A3KMT51) (the “Bonds”) from certain institutional investors. The outstanding principal amount of the Bonds not held by the Issuer is EUR 279.9 million as of today. The repurchased Bonds represent approximately 27% of the outstanding principal amount. The purchase price per EUR 100,000 nominal amount will be EUR 73,000. In addition, the Company will pay interest accrued on the Bonds from and including the immediately preceding interest payment date to but excluding the settlement date of the repurchase, which amounts to EUR 553.67 per Bond. The repurchased Bonds may be cancelled by the Company or held and resold. Following the settlement of the repurchase which is expected to occur on or around 25 August 2023, an aggregate principal amount of the Bonds of EUR 205.3 million will be outstanding and not held by the Issuer. GFG continues to look at opportunities to reduce its outstanding Bonds. Person making the notification: Claire Higgins, Group Senior Legal Counsel. For inquiries, please contact:
press@global-fashion-group.com
investors@global-fashion-group.com
DISCLAIMER
This announcement contains forward-looking statements. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in this announcement, and neither the Company nor any other person accepts any responsibility for the accuracy of the forward-looking statements contained in this announcement or the underlying assumptions. This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States (including its territories and possessions) or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, any securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state within the United States and may not be offered or sold in the United States, unless registered under the Securities Act or offered and sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. There will be no public offer of the securities referred to herein in the United States. About Global Fashion Group
Global Fashion Group is the leading fashion and lifestyle destination in LATAM, SEA and ANZ. From our people to our customers and partners, we exist to empower everyone to express their true selves through fashion. Our three ecommerce platforms: Dafiti, ZALORA and THE ICONIC connect an assortment of international, local and own brands to over 800 million consumers from diverse cultures and lifestyles. GFG’s platforms provide seamless and inspiring customer experiences from discovery to delivery, powered by art & science that is infused with unparalleled local knowledge. Our vision is to be the #1 fashion & lifestyle destination in LATAM, SEA and ANZ, and we are committed to doing this responsibly by being people and planet positive across everything we do. (ISIN: LU2010095458)

Global Fashion Group S.A.: GLOBAL FASHION GROUP AGREES TO REPURCHASE A PORTION OF ITS OUTSTANDING CONVERTIBLE BONDS DUE 2028 (ISIN: DE000A3KMT51)

Homepage of online platform The Iconic Credits: Image: Global Fashion Group
For the second quarter, Global Fashion Group’s (GFG) net merchandise value (NMV) of 346.5 million euros was negative 14.7 percent compared to the same quarter of 2022 and revenues were down 18.6 percent to 223.8 million euros. The company’s first half NMV of 649.9 million euros was down 11.2 percent, while revenues declined 14.9 percent to 422.3 million euros. Gross margin dropped to 42 percent and adjusted EBITDA margin was negative 7.2 percent. Active customers were down 19 percent and order frequency declined by 1.2 percent. Commenting on the trading update, Christoph Barchewitz, CEO of GFG, said in a statement: “Macro pressures continue to impact customer behaviour in GFG’s markets, which is reflected in our Q2 results. While our topline is challenged in the near-term, our commitment to improving each of our regions’ propositions for demand recovery, remains strong.”
In the company’s LATAM region, NMV declined 19 percent due to a drive for marketing efficiency and lower purchasing power with elevated inflation and interest rates. In SEA, NMV fell 16.9 percent reflecting the company’s prioritisation of profit over growth in a weaker demand environment. In ANZ, the company said, steadily increasing interest rates, elevated inflation and GDP growth declines led to reduced discretionary spend and higher discounting to match a competitive market. As a result, ANZ’s NMV declined by 9 percent. For the full year, GFG expects to deliver NMV growth of in the range of negative 15 to negative 10 percent to between 1.3 and 1.4 billion euros and 0.9 billion euros of revenue on a constant currency basis. Adjusted EBITDA margin is expected to be negative 8 percent to negative 6 percent.

Global Fashion Group posts drop in Q2 NMV and revenue

08.08.2023 - 17:17:33
EQS-AFR: Global Fashion Group S.A.: Vorabbekanntmachung ?ber die Ver?ffentlichung von Finanzberichten gem?? - 114, 115, 117 WpHG
Hiermit gibt die Global Fashion Group S.A. bekannt, dass folgende Finanzberichte ver?ffentlicht werden:Berichtsart: Konzern-Finanzbericht (Halbjahr/Q2) Sprache: Englisch Ver?ffentlichungsdatum: 10.08.2023 Ort: https://ir.global-fashion-group.com/websites/globalfashion/English/1030/publications.html
08.08.2023 CET/CEST Die EQS Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen.Medienarchiv unter https://eqs-news.com
Sprache: Deutsch Unternehmen: Global Fashion Group S.A. 5, Heienhaff L-1736 Senningerberg
Luxemburg Internet: https://global-fashion-group.com ? ?08.08.2023?CET/CEST

Global Fashion Group S.A., LU2010095458

Established in 1998, AGENDA is a regional interactive agency dealing with digital marketing, online branding, and technology solutions. AGENDA uniquely employs a combination of marketing, creative and technology as their key attribute to differentiate from competitors in the advertising and Internet industry.

AGENDA Corporation

The new partnership sees Global Fashion Agenda , which is responsible for the Copenhagen Fashion Group Summit , and thought leadership publications including Fashion Group on Climate and Fashion Group CEO Agenda , recognise Global Fashion Group 's sustainable efforts to drive the conversation on sustainability in growth markets .

GLOBAL FASHION GROUP JOINS GLOBAL FASHION AGENDA’S STRATEGIC PARTNER GROUP – CONTRIBUTING A FOCUS ON NEW MARKETS.
GLOBAL FASHION GROUP JOINS GLOBAL FASHION AGENDA’S STRATEGIC PARTNER GROUP - CONTRIBUTING A FOCUS ON NEW MARKETS - Global Fashion Group

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Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B). 

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Peter  Kimpel

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Global Fashion Group (GFG) (ETR: GFG) is a fashion and lifestyle e-commerce platform. It offers a wide variety of fashion and lifestyle products, including apparel, footwear, accessories, beauty, and homeware. It was founded in 2011 and is based in Senningerberg, Luxembourg.

Name	Work History	Title	Status
Christoph Barchewitz		Chief Executive Officer	Current
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