Global Fashion Group, the emerging markets fashion retailer set up by investors Kinnevik and Rocket Internet, reported its third-quarter operating losses narrowed somewhat while net revenue jumped by 19 percent.
Rocket published its Q2 results for Global Fashion Group Friday so just how did the giant online e-tailer fare? It's doing well, apart from still being lossmaking. But losses have dwindled while sales are on the rise
German e-commerce investor Rocket Internet has plunged to a first-half loss of 617 million euros ($691 million) after heavy writedowns on companies in its portfolio, reviving concerns about the value of its investments.
Sweden's Kinnevik revealed a big drop in the value of Global Fashion Group (GFG), highlighting concerns over how much digital consumer businesses are worth and knocking shares in co-investor Rocket Internet.