Fashion platform The Iconic has reported a 5.8 per cent lift in its net merchandise value (NMV) for the second quarter of 2025.
This is according to the platform’s parent company Global Fashion Group, which manages two other similar platforms in Southeast Asia (SEA) and Latin America (LATAM).
GFG reported that The Iconic’s growth was primarily driven by high participation in campaign events, enhanced delivery offerings in key cities and the growing strength of its marketplace offering.
The Iconic also delivered a second quarter of customer growth with active customers increasing 4.3 per cent year-on-year, exceeding 2 million in the second quarter. This adds on to a 0.2 per cent lift in active customers in the first quarter of 2025.
Despite the lift at The Iconic, alongside a 10.2 per cent NMV boom in LATAM, the group’s total NMV was dragged down by a 22.5 per cent fall in SEA.
Overall group NMV for Q2 was down 0.4 per cent on a constant currency basis, hitting €249.2 million (~A$445 million). NMV is the total value of goods sold or bought over a specific period, after deducting cancellations, returns, and refunds.
The group’s total revenue in Q2 was €163.4 million, down 1.2 per cent, with gross profit margin lifting to 47.7 per cent despite gross profit falling by €2 million to €78 million.
Despite this, the group’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) hit positive €3 million, up from negative €3.7 million in Q2 2024.
GFG CEO Christoph Barchewitz said there were improvements across all three of its regions in the half, driven by ongoing cost savings initiatives and a “strong” topline recovery in two out of three regions.
“While group NMV and revenue have stabilised, robust growth in LATAM and ANZ, supported by positive customer momentum, has been partially offset by continued challenges in SEA.
“We remain focused on building sustainable growth and delivering value for our customers and brand partners in all regions.”
The group’s NMV in Q2 was supported by a 1.8 per cent year-on-year increase in sverage order value which was offset by a 2.1 per cent decline in orders.
The rate of group active customers decline continued to slow to a negative 2.5 per cent year-on-year decrease in Q2 as a result of improved customer retention.
Overall active customers across GFG was 7.4 million in Q2 2025, with the number of orders hovering at 4.1 million.
GFG reconfirmed its full year guidance for 2025. The company is expecting NMV to hit within a range of plus or minus 5 per cent year-on-year on a constant currency basis, implying €1.0-1.1 billion of NMV. Adjusted EBITDA is expected to be breakeven.