Australia fashion and lifestyle platform The Iconic has reported a 3 per cent year-on-year growth in net merchandise value (NMV) alongside a boost to its earnings for the full half year.
Localised financials were released by the platform alongside the Q2 trading update by its parent company Global Fashion Group – which also manages Zalora in Southeast Asia, and Dafiti in Latin America.
According to The Iconic, its total NMV hit $401 million in the half, driven by a lift in active customers by 2 per cent. Revenue also grew 3 per cent, hitting $207 million.
Towards the bottom line, the company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew by $4.7 million to $13.6 million for the full half. This added to a 2 percentage point lift in its adjusted EBITDA margin to 5 per cent, which the company put down to strategic retail buying, marketplace growth, increased uptake in retail media, and continued fulfilment efficiencies.
The Iconic CEO Jere Calmes said the first half has been a strong period of progress for the fashion platform.
“We are continuing to invest in the customer experience, including through our loyalty program ‘THE ICONIC Front Row’, while evolving beyond a traditional online retailer by building services that create value for both our customers and the fashion and lifestyle brands on our platform.”
Calmes added that customer acquisitions are being driven by expanded offerings outside its usual remit, including through its media and marketing services and through its ‘Fulfilled by The Iconic’ service for its marketplace clients, where they store, pack and ship products on behalf of sellers.
Other key milestones include welcoming back Tigerlily to its assortment, which comes after the swimwear brand was snapped up and re-launched by Seafolly. The Iconic also added Gap, Missoni Home, Polo Ralph Lauren Home, Frame, Found, Lovaan and Source Unknown to its brand line-up, as well as launched a dedicated Korean Beauty category earlier this year.
Wrapping up localised financials, The Iconic’s gross margin remained at 48 per cent, while its marketplace share of NMV increased by 2 percentage points. Fulfilled by The Iconic now accounts for 15 per cent of marketplace NMV, with 134 brands across ANZ involved. This includes recent additions of R.M.Williams and Finnish design house Marimekko.
The Iconic’s NMV and revenue growth comes as Global Fashion Group reported a total slip in NMV by 0.6 per cent for the second quarter of 2026, with revenue down 2.9 per cent, compared to the same quarter last year.
Dafiti in Latin America reported a Q2 NMV decline of 0.6 per cent amid external headwinds, including record household debt in the region, a promotional competitive environment and consumer focus on the World Cup.
For Zalora in Southeast Asia, Q2 NMV decreased 10.3 per cent year-on-year as the region continued to face topline pressure.
For the full first-half of 2026, all three regions were profitable and delivered year-on-year adjusted EBITDA margin expansion, according to GFG.
“Following our profitable full year in 2025, we have reached another milestone with our first profitable H1,” GFG CEO Christoph Barcewitz said. “This achievement in a softer demand environment validates our focus on stronger unit economics, scaling marketplace and platform services and embedding AI across our operations.
“We have built a more resilient, efficient and profitable business that positions us well to navigate varying market conditions.”
Across the group, the NMV slip of 0.6 per cent was broadly stable due as a 5.3 per cent lift in average order value (AOV) offset the impact of a 5.6 per cent decline in orders.
A continued focus on high-quality customer engagement resulted in a 1.8 per cent increase in order frequency, while active customers decreased by 5.5 per cent, GFG reported.
Among other financials, GFG noted that its Q2 gross margin was flat at 47.7 per cent
For full-year 2026, GFG narrowed its NMV guidance expectations, projecting a movement between a 4 per cent slip to flat growth, as management expects a more challenging second half.
This implies an expected NMV range of between €1.05 billion to €1.09 billion (~A$1.63 billion) when accounting for year-to-date exchange rate movements.
For adjusted EBITDA, GFG narrowed its range from €15-25 million to €18-25 million, accounting for H1 and the importance of Q4 trading – which would include Black Friday and Christmas trading.