FRANKFURT, June 3 (Reuters) – Global Fashion Group (GFG), an online fashion retailer focusing on markets such as Asia-Pacific, Central Asia and Latin America is preparing a Frankfurt stock market flotation to fund further growth, the company said on Monday.
The firm, which operates the platforms The Iconic, Zalora, Dafiti and Lamoda, is planning to raise about 300 million euros ($335 million) by selling new shares.
GFG has 11.2 million active customers and last year posted 1.16 billion euros in sales and an adjusted EBITDA margin of minus 4.3%.
“It is still very early days for fashion and lifestyle e-commerce in our markets. Today, most of our markets have less e-commerce adoption than Europe had 10 years ago,” Co-Chief Executive Officers Christoph Barchewitz said.
GFG has strategic partnerships with four of five of the top 50 global non-luxury brands, setting it apart from general commerce retails like Alibaba or Amazon .
The trading volume generated through GFG’s platforms – the so-called gross merchandise value – stood at 1.4 billion euros in 2018 and GFG expects that to rise to 1.7-1.8 billion this year.
Goldman Sachs, Morgan Stanley and Berenberg are organising the transaction with the help of HSBC.
($1 = 0.8950 euros)