Fashionette news and archive

The Platform Group maintains GMV, sales and profit growth outlook

The Platform Group achieved a gross merchandise volume (GMV) of 608.4 million euros for the nine month period and generated sales of 371.2 million euros, up against the same period of 2023. The company attributed the above increase to the growth of the connected partners to 12,981 and the expansion of the platform and software solutions to 23...

Business

The Platform Group raises forecast on strong Q1

The Platform Group (TPG), a software company for platform solutions, achieved first quarter gross merchandise volume of 190.6 million euros and generated sales of 107.9 million euros, a substantial increase over the prior year. The company attributed an increase in GMV and sales to the growth of the number of connected partners to 11,987 and the...

Business

The Platform Group achieves sales and profit above forecast

The Platform Group said that pro forma gross merchandise volume (GMV) increased to 705 million euros compared to 2022 GMV of 591 million euros and forecasted 2023 GMV of 700 million euros. Pro forma net sales reached 440.8 million euros versus forecast of 440 million euros. The company added that adjusted EBITDA improved to 22.6 million euros...

Business

The Platform Group sells beauty and smartwatches categories

The Platform Group (TPG) is selling its beauty and smartwatches business categories to an undisclosed company based in Germany that specialises in online trading. The company said in a release that the transaction will be implemented as an asset deal and will be completed on January 31, 2024. “Both business areas have made losses for Fashionette...

BusinessFeatured

Fashionette H1 earning improve, raises outlook

Fashionette AG achieved operating earnings (adjusted EBITDA) increase to 1.5 million euros in the first six months of 2023. The company said in a release that operating cash flow improved from negative 7.1 million euros to negative 3.8 million euros. In light of the effects of the cost-cutting and efficiency program, Fashionette raised its...

Business

German retailer Fashionette to merge with The Platform Group

Two German fashion businesses Fashionette and The Platform Group have finalised plans to merge their activities. Since December 2022, Wiesbaden-based The Platform Group has been the majority shareholder of Fashionette, an online luxury accessories company based in Düsseldorf. Dominik Benner, the CEO of Fashionette, said in a statement: “Merging...