Luxembourg: Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in growth markets, has successfully raised approximately EUR 120 million in gross proceeds, via a placement of 16.5 million new shares at a price of EUR 7.30 per share.

GFG will use the additional capital to accelerate the execution of its mid-term strategy, particularly by investing in the expansion of its Marketplace and Fashion Services businesses. This will further power GFG’s platform capabilities, embed its role in the digital fashion ecosystem and strengthen its proposition to customers and brands.

Both businesses are highly scalable and have significant scope for future growth. Marketplace has tripled its share of Group NMV since 2017 to 34% in Q3 2020. GFG will grow investment in its technology and operations underlying both units so that fashion and lifestyle brands seeking to accelerate their ecommerce businesses globally will be able to plug seamlessly into GFG’s fashion services across data analytics, marketing and fulfilment.

Christoph Barchewitz, Co-Chief Executive Officer, said: This capital raise is a vote of confidence by our investors in our strategy and execution track record. We are proud to have accelerated growth in 2020 while also expecting to deliver our first EBITDA-positive year – one year ahead of our original guidance. With more than 15 million customers, a record share of NMV coming from our Marketplace channel and an unparalleled selection of fashion and lifestyle brands in our markets, we believe now is the right time to invest further in our customer value proposition, technology platform and operational infrastructure.”

Co-Chief Executive Officer, Patrick Schmidt, said “Today, GFG operates in growth markets with some of the lowest fashion and e-commerce penetration worldwide. With over one billion consumers in these  markets, our potential for growth is huge. With this transaction, we have even more firepower to accelerate fashion e-commerce adoption and to fuel the next chapter of our growth.”

In connection with the offering, GFG has agreed to a lock-up period of 180 days, subject to customary exemptions.

Berenberg, Goldman Sachs and HSBC are acting as Joint Global Coordinators and Joint Bookrunners on the transaction.



About Global Fashion Group:

Global Fashion Group is the leading fashion and lifestyle retail destination in LATAM, CIS, SEA and ANZ. We connect over 10,000 global, local and own brands to a market of more than one billion consumers through four established ecommerce platforms: dafiti, lamoda, ZALORA and THE ICONIC. Through an inspiring and seamless customer experience enabled by our own technology ecosystem and operational infrastructure, we are dedicated to being the #1 fashion and lifestyle destination in our markets. With 17 offices and 10 fulfilment centres across four continents, GFG proudly employs a dynamic and diverse team with deep local knowledge and expertise. In the twelve months to 30 September 2020, GFG delivered 39.1 million orders to 15.4 million Active Customers. (ISIN: LU2010095458.)

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LOGO (c) Global Fashion Group

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