Global Fashion Group raised less than half the sum it had originally targeted in an initial public offering of new shares that drew weak investor demand and ended up being mostly backed by its existing shareholders.
Global Fashion Group (GFG), an online fashion retailer focused on Asia and Latin America, is postponing its initial public offering until July, which sources close to the matter said was due to low investor demand.
Australian luxury brand Ginger & Smart has relinquished a majority stake to private equity investment firm Alceon Group, as the ethical fashion label rejigs its company structure to become ARG Ginger & Smart.
Zalora owner Global Fashion Group said Monday that it delivered a strong Q1 with year-on-year net merchandise value rising an impressive 22% to €341m on a constant currency basis, with active customers up 14.5% to 11.5m.
The Iconic, the Australian e-retailer owned by Luxembourg-based Global Fashion Group (GFG), has launched a new feature that will allow customers to shop consciously using five different sustainability categories.
The former Guess CEO has been named non-executive director and chairman of the sustainability committee of Global Fashion Group, the portfolio of fashion e-commerce platforms including The Iconic, Zalora and Dafiti.