The Iconic's parent company Global Fashion Group (GFG), is expecting positive results for its Q2 report.
The business anticipates Q2 to be its second adjusted EBITDA-profitable and first cash flow-positive quarter, as a result of strong customer demand recovery since the end of April, as well as its strategic response to the COVID-19 pandemic.
GFG experienced a strong recovery in sales from late April, with order intake up over 30% since the start of May compared to the same period last year.
GFG reports that this was driven by strong performances in CIS and LATAM markets, while APAC saw more moderate growth as a result of soft trading in Australia.
Despite subdued conditions in Australia, GFG's preliminary results state that the business' net merchandise value (NMV) growth (on a constant currency basis) of above 20% for the quarter was driven by more than two million new customers.
The business also improved its marketplace share of more than 30% - compared to 19% in Q219 - and experienced around 90% marketplace NMV growth as a result of category mix improvements and increased marketplace SKU share.
GFG reports that profitability, alongside disciplined working capital management and capital expenditure, resulted in strong cash generation and a pro-forma cash balance at 30 June of around €260m, up €50m from 31 March.
GFG co-CEOs Christoph Barchewitz and Patrick Schmidt said that the preliminary results indicate the business' COVID-19 response is working.
"We continue to put the safety of our people first and are humbled by this strong financial performance, which is a direct result of the agility and adaptability of the GFG teams around the world.
"Over the last few months customer acquisition, marketplace share growth and brand relationships have been accelerated.
"We have continued to execute against our strategic priorities with a focus on capturing the significant fashion and lifestyle ecommerce opportunity in our markets," they said.
GFG will publish its second quarter and first half results on August 20.