Trading at The Iconic has “proved resilient” in the first quarter of 2026 despite the softer consumer spending market according to its parent company Global Fashion Group, with figures showing lifts in revenue and gross profits.
In a trading update today, GFG reported that The Iconic saw a 3.5 per cent lift in net merchandise value (NMV) to $175.4 million. NMV is the total value of completed e-commerce sales after deducting returns, refunds and cancellations from the gross merchandise volume (GMV).
Meanwhile, total revenue for the quarter grew by 4 per cent year-on-year, hitting $117.3 million, supported by continued customer engagement and platform expansion.
The Iconic saw a 3.7 per cent increase in active customers, driven by new acquisitions and reactivation initiatives.
The Iconic CEO Jere Calmes said management and the wider team have carried its strong FY25 momentum into the first quarter of 2026. The fashion and lifestyle platform reported an $18.9 million jump in its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which hit $45.7 million in the full-year.
The Iconic’s 2025 EBITDA is also up on 2023 numbers by $49.8 million.
Alongside earnings,the platform also reported a 6 per cent lift in its net merchandise value (NMV) to $893 million. Across GFG, The Iconic is its largest region, contributing around half of the revenue to the total group NMV.
Calmes said the results – which also include an increase in its gross profit to $56.7 million, with gross margin slipping slightly by 40 basis points to 48.4 per cent – reflects the strength of its customer-led, platform strategy.
“By continuing to invest in customer acquisition and loyalty, partner and brand expansion, and AI innovation, we are strengthening our leadership as ANZʼs leading online fashion and lifestyle platform and building deeper trust with our growing customer base.ˮ
The Iconic is supporting this momentum with continued investment in expanding a relevant and differentiated assortment. Since the start of 2026, the platform has welcomed over 50 new brands including a dedicated Korean Beauty category, alongside coveted local and international fashion and lifestyle brands such as Norma Kamali, Rag and Bone, Deadly Ponies, TALA, Arcteryx, Represent 24/7, and Free People.
The first quarter results at The Iconic could not offset GFG’s global NMV slip. The overarching company has similar fashion platforms in Latin America and Southeast Asia.
Group NMV fell by 3 per cent to €215 million (~A$352 million) on a constant currency basis. Group-wide NMV was supported by a 5.2 per cent year-on-year increase in average order value, which mitigated the impact of a 7.7 per cent decline in order volumes.
Order frequency rose 1.9 per cent in the first quarter, reflecting a more loyal customer base and the group’s focus on customer quality. Active customers globally decreased by 4.8 per cent to 7.2 million.
GFG CEO Christoph Barchewitz said the company’s commitment to cost discipline and healthy customer economics managed to translate into margin expansion this quarter, with global gross margin lifting by 50 basis points to 46.5 per cent.
Barchewitz highlighted The Iconic’s performance, which he said supported topline performance.
“The combination of increased order frequency and a focus on customer quality is building long-term value as we progress toward our profitable growth goals,” Barchewitz said.
GFG confirmed its full-year 2026 guidance as originally set in March. NMV is expected to be in a range of plus or minus 4 per cent on a constant currency basis, implying NMV of €990 million to just over €1 billion.Adjusted EBITDA is expected to be €15-25 million.
GFG noted this guidance is based on its December 31, 2025 closing exchange rates, adding it has observed currency tailwinds in Q1. “A stronger Australian Dollar and Brazilian Real could benefit our Euro-reported figures if these trends continue throughout the year,” the company noted.
“GFG’s guidance reflects softer expectations for the first half of 2026 with different trajectories factored into the second half. GFG has no direct exposure to the Middle East and is closely monitoring potential secondary impacts on global supply chains and consumer sentiment.
“The guidance ranges incorporate factors specific to GFG’s markets, such as interest rate increases in Australia and upcoming election cycles in LATAM. However, they do not assume prolonged geopolitical volatility as this cannot be reliably predicted.”