GFG: Global Fashion Group posts NMV of $314.2 mn in Q2 FY24

Global Fashion Group (GFG) reported a 12.3 per cent YoY decline in Q2 FY24 net merchandise value to €285 million (approximately $314.2 million), driven by a 16.9 per cent drop in orders and 16.7 per cent reduction in active customers. Despite the decline, average order value rose by 5.5 per cent YoY. GFG improved gross margin to 45 per cent.