GLOBAL FASHION GROUP UPGRADES OUTLOOK FOR FULL YEAR 2020

Luxembourg, 11 November 2020 - Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, updates its outlook for the current financial year as a result of strong trading in its fourth quarter to date.

GFG now expects to achieve constant currency Net Merchandise Value ("NMV") growth of around 25%, giving just over €1.9 billion NMV and €1.3 billion of revenue. Adjusted EBITDA is expected to be at least €10 million. Capex investment will remain around €45 million. This guidance is based on current currency exchange rates. In its outlook published on 8 October 2020, GFG guided to constant currency NMV growth of around 23%, delivering c.€1.9 billion NMV and c.€1.3 billion of revenue. GFG expected to be profitable with respect to Adjusted EBITDA and capex investment of around €45 million.

GFG will publish its third quarter results on 12 November 2020 as scheduled.


Person making the notification: Andin Fonyonga, Group Head of Legal & Compliance.


FURTHER INFORMATION
KPI and financial definitions, including alternative performance measures are available in the H1 2020 Interim Management Report.

For inquiries please contact:

Press / Communications
Christina Song, Strategy Director
press@global-fashion-group.com

Investor Relations
Adam Kay, Investor Relations Director
investors@global-fashion-group.com

Forward looking information
This announcement contains forward-looking statements. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in this announcement, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this announcement or the underlying assumptions.

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 June 2020, GFG delivered over 36.8 million orders to 14.6 million Active Customers. (ISIN: LU2010095458.)

For more information visit: www.global-fashion-group.com