Giglio.com sees revenue increase thanks to strong growth in all markets

Image courtesy. www.giglio.com

Italian online fashion retailer Giglio.com’s revenue totaled 22 million euros in the first half of 2022, up 45% from the same period in 2021.

In the second quarter, the company said in a statement that gross merchandise value rose 47% despite severe macroeconomic instability caused by the conflict in Ukraine.

“We are operating in a macroeconomic environment that requires caution. Our forward-looking decisions allowed us not only to consolidate last year’s strong sales growth, but also to achieve significant cost optimization, a key factor in such a significant improvement in profitability. The opening of a new logistics center in Vimodrone (Milan), which allows us to optimize logistics flows and increase our execution capacity by aligning it with our growth objectives, has largely contributed to this result.” , said Giuseppe Giglio, President and CEO of Giglio.com.

Due to the continued growth of the company’s marketing plans and new Korean and Japanese versions of the e-commerce platform, business increased by 50% in the APAC region.

The company recorded growth of 132% in South Korea and 118% in Taiwan, followed by 89% in China. The MENA region saw an increase of 129%, while North America increased by 40%. As a result, the gross margin increased by 63% and the commercial result more than doubled to exceed 1.9 million euros, compared to 0.8 million euros in the first half of 2021, an increase of 129%.

EBITDA was negative €1 million as of June 30, 2022, representing a negative return on sales of 4.8%. This is a significant improvement from the first half of 2021, when the company recorded a negative 8.9%.

EBIT was negative at 1.6 million euros, compared to a negative result of 1.7 million euros as of June 30, 2021. Net income amounted to 1.6 million euros, compared to 1 .8 million euros in the first half of 2021.

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