Luxembourg, 2 July 2019 – Global Fashion Group S.A. (“GFG”), the leading online fashion and lifestyle destination in 17 countries across Asia Pacific, Latin America and the Commonwealth of Independent States, today begins trading on the Frankfurt Stock Exchange. GFG’s shares are listed in the Prime Standard under the trading symbol GFG, the securities identification number (WKN) A2PLUG and the international securities identification number (ISIN) LU2010095458.
Christoph Barchewitz and Patrick Schmidt, Co-Chief Executive Officers, said: “It is still very early days for fashion ecommerce in our markets. We are building the #1 fashion and lifestyle destination in Asia Pacific, Latin America and CIS. Going public secures us funding to invest into our platform and infrastructure and in turn, benefit from the tremendous growth opportunities in our markets. As part of becoming a public company, we are also excited to welcome a new Supervisory Board, whose combined wealth of experience in fashion, e-commerce and growth markets will support us on our journey as the leading fashion & lifestyle destination in growth markets.”
The new Supervisory Board, appointed on 31st May 2019, comprises a global and diverse set of individuals with a balanced mix of experience in fashion, e-commerce and growth markets. It consists of Cynthia Gordon (Chair), Georgi Ganev, Alexis Babeau and Victor Herrero, as well as two new Board members, Carol Shen and Laura Weil.
Carol brings a deep understanding of the fashion and beauty industry to GFG from previous experience including her roles as Managing Director of the Estee Lauder Companies affiliate in China and President of Gucci China. Laura brings over 30 years of industry experience across retail, e-commerce and finance, including serving as Vice President of Finance at Macy’s, Executive Vice President of American Eagle Outfitters, and CEO at Ashley Stewart.
GFG’s net cash of €178 million (as of end of Q1 2019), together with the gross proceeds of €198 million from the IPO (assuming exercise of the greenshoe option in full), make GFG well-funded to invest in its growth strategy, further strengthen the end-to-end customer proposition, and continue its path to profitability.
For more information, please visit: www.global-fashion-group.com
Global Fashion Group (“GFG”; ISIN: LU2010095458) is the leading fashion and lifestyle retail destination in Asia Pacific, Latin America and CIS. We connect over 10,000 global, local and own brands to a market of more than one billion consumers through four established e-commerce platforms: THE ICONIC, ZALORA, dafiti and lamoda. 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 2018, GFG delivered over 28 million orders to 11.2 million active customers, generating Net Merchandise Value of approximately €1.5 billion. For more information, visit http://global-fashion-group.com
This release constitutes neither an offer to sell nor a solicitation to buy any shares. The shares have already been sold.
This release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada or Japan. It does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada or Japan. The shares mentioned herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “Securities Act”). The shares have not been offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act. There has been no public offer of shares of GFG in the United States.