Global Fashion Group (GFG) Corporate presentation summary

Market position and strategy

• Operates leading fashion and lifestyle e-commerce platforms in Australia/New Zealand, Latin America, and Southeast Asia, serving nine countries and targeting a €220bn+ market of 165 million people.

• Holds a unique position as the only local multi-brand platform of scale, with strong relationships with over 5,000 global and local brands and a flexible business model combining retail, marketplace, and platform services.

• Focuses on customer-centric strategies, app-first engagement, and AI-driven personalization to drive order frequency and customer lifetime value.

• Emphasizes operational efficiency, fast delivery, and easy returns, supported by significant automation and scalable infrastructure.

• Embeds sustainability and responsible business practices, with 86% of operational waste diverted from disposal and 100% renewable energy sourcing in key markets.

Financial performance and cost management

• Achieved €1,042m in net merchandise value (NMV) and €680m in revenue for 2025, with a 1.4% adjusted EBITDA margin and €9m adjusted EBITDA.

• Improved adjusted EBITDA by €62m and normalised free cash flow by €31m over three years, despite a 6.6% NMV decline.

• Reduced total cost base by €106m from 2023 to 2025, more than double the NMV decline, through fulfilment, marketing, and tech/admin efficiencies.

• Maintained strong liquidity with €185m available funding at year-end 2025 and a healthy net cash position.

• Increased gross margin to 46.4% in 2025, driven by healthier inventory, higher marketplace contribution, and platform services growth.

Regional performance and business model evolution

• ANZ delivered strong profitability with €26m adjusted EBITDA and 6% NMV growth; LATAM and SEA approached breakeven with improved margins.

• Marketplace share of NMV rose to 39% in 2025, with a goal of 45%, and platform services contributed 4% of revenue.

• Order frequency increased to 2.4x per customer, offsetting a 4% decline in active customers to 7.3 million.

• Average order value grew by 2.1% to €60.5, helping to stabilize NMV despite lower order volumes.

• Inventory days reduced to 89 and aged inventory share fell to 14%, supporting margin expansion.