GFG’S ANZ BUSINESS, THE ICONIC, STRENGTHENS FINANCIAL POSITION WITH NEW CREDIT FACILITIES
Luxembourg, 22 December 2025 – Global Fashion Group S.A. (“GFG” or “the Group”), the leading online fashion and lifestyle destination in ANZ, LATAM and SEA, announces that its ANZ business, THE ICONIC, has signed AUD 45 million (EUR 25 million) of new credit facilities with National Australia Bank (“NAB”). This includes a AUD 30 million (EUR 17 million) revolving credit facility (“RCF”) and AUD 15 million (EUR 8 million) bank guarantee and letter of credit facilities.1 These facilities have an initial term until January 2028.
The new financing arrangements are based on the fundamental strength and trajectory of ANZ. ANZ’s performance in the last twelve months to September 2025 was particularly strong with an NMV growth of 7% year-on-year on a constant currency basis, a Gross Margin of 49% and an Adjusted EBITDA margin exceeding 6%.
The RCF may be used by THE ICONIC for working capital, capital expenditure and general corporate purposes, and is sized to ensure the business can independently manage all seasonal working capital and cash flow movements. The bank guarantee and letter of credit facilities provide financial support for THE ICONIC to secure key commercial obligations such as leases and major supplier contracts.
GFG reported its Q3 results in November where it delivered a strong performance with all key topline metrics – Net Merchandise Value (“NMV”), Revenue and Active Customers – increasing across its largest markets, ANZ and LATAM. The Group achieved a positive Adjusted EBITDA for the last twelve months to September 2025, following eight consecutive quarters of expansion in both Gross Margin and Adjusted EBITDA margin.
GFG maintains a solid liquidity position that provides financial flexibility as the Group advances towards delivering profitable growth. The new RCF further expands the Group’s liquidity options, adding to its existing c.€10 million of borrowing facilities and c.€28 million of bank guarantee facilities available (as reported at 30 June 2025).
Helen Hickman, CFO of GFG, commented:
“We secured this RCF as a result of the strong financial performance THE ICONIC has demonstrated in recent quarters. It provides us with greater flexibility and local liquidity to support operations in ANZ, our largest market at around half of the Group’s NMV. Along with discounted repurchases of nearly 90% of our outstanding convertible bond, this RCF strengthens our financing structure and ensures we are well-positioned to deliver value for our stakeholders.”
Jere Calmes, CEO of THE ICONIC, commented:
“THE ICONIC’s strong financial results over the past year demonstrate that our strategy is working and that our momentum across Australia and New Zealand is accelerating. By attracting more customers and relevant brand partners to our platform, we are driving stronger margins and NMV growth. We are pleased to have the support of NAB, one of the region’s leading financial institutions, as we continue on this positive trajectory. This new facility positions THE ICONIC to move quickly on market opportunities, manage seasonal working capital efficiently and continue delivering an inspiring, reliable online fashion experience for our customers across ANZ.”
(1) AUD translated to EUR at an FX rate of 1.77 as of 19 December 2025.
FURTHER INFORMATION
KPI and financial definitions including alternative performance measures are available in the 2025 Half-Year Report.
For inquiries, please contact:
Saori McKinnon
Head of Investor Relations & Communications
investors@global-fashion-group.com
press@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 (“GFG”) is the leading fashion and lifestyle destination in ANZ, LATAM and SEA. GFG exists to empower its people, customers and partners to express their true selves through fashion. GFG’s three ecommerce platforms – THE ICONIC, Dafiti and ZALORA – offer a curated assortment of international, local and own brands to a diverse market of 800 million consumers. Through a seamless and inspiring customer journey, powered by a blend of data-driven insights and local expertise, GFG’s platforms deliver an exceptional customer experience from discovery to delivery. GFG’s vision is to be the #1 fashion & lifestyle destination in its markets, and is committed to doing this responsibly by being people and planet positive across everything it does. (ISIN: LU2010095458)
For more information visit: www.global-fashion-group.com
