GLOBAL FASHION GROUP ADJUSTS ITS OUTLOOK FOR FULL YEAR 2021

Luxembourg, 9th December 2021 - Global Fashion Group S.A. ("GFG"), the leading online fashion and lifestyle destination in growth markets, adjusts its outlook for the full year 2021.

Following a strong start to the quarter with c.28% constant currency NMV growth for October, GFG saw demand weaken through the subsequent key trading weeks and into December. This reduces full-year expectations for NMV, Revenue and Adjusted EBITDA.

GFG now expects to achieve constant currency growth of around 23% for the full year, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. Adjusted EBITDA is expected to be around €10 million. In its outlook, published on 11 November 2021, GFG previously guided to NMV constant currency growth of over 25%, representing €2.3 - €2.4 billion of NMV and c.€1.5 billion of Revenue. GFG expected to deliver a modest improvement in Adjusted EBITDA versus last year's €16 million.

All figures reported herein are preliminary and unaudited. GFG will report its financial figures for the fourth quarter results on 8 March 2022.

Person making the notification: Claire Higgins, Group Senior Legal Counsel.

FURTHER INFORMATION
KPI and financial definitions, including alternative performance measures are available in the H1 2021 Interim Management Report.

For inquiries please contact:

Press / Communications
Jovanna Lakcevic, Communications Director
press@global-fashion-group.com

Investor Relations
Jo Britten, 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 destination in growth markets across LATAM, CIS, SEA and ANZ. From our people, to our customers and partners, we exist to empower everyone to express their true selves through fashion. Our four e-commerce platforms: dafiti, lamoda, ZALORA and THE ICONIC connect an assortment of international, local and own brands to more than one billion consumers from diverse cultures and lifestyles. GFG's platforms provide seamless and inspiring customer experiences from discovery to delivery, powered by art & science that is infused with unparalleled local knowledge. Our vision is to be the #1 online destination for fashion & lifestyle in growth markets, and we are committed to doing this responsibly by being people and planet positive across everything we do.
(ISIN: LU2010095458.)

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