#1FASHION ANDLIFESTYLEDESTINATION INGROWTH MARKETS
September 2020
OUR VISION IS TO BE THE #1 FASHION AND LIFESTYLE DESTINATION IN OUR MARKETS
OUR PURPOSE IS TO ENABLE TRUE SELF-EXPRESSION2 COMPANY PRESENTATION: SEPTEMBER 2020
OUR OPPORTUNITY
3 COMPANY PRESENTATION: SEPTEMBER 2020
ONE BILLION PEOPLE LIVE IN OUR REGIONS AND ARE MOVING ONLINE
4
Source: GFG calculations based on data from WCIS; Euromonitor International Ltd: Apparel and Footwear 2020 edition, Beauty and Personal Care 2019 edition, Personal Accessories and Eyewear 2020 edition. Fashion and lifestylemarket size refers to the aggregation of Apparel and Footwear, Beauty and Personal Care, and Personal Accessories and Eyewear. Retail value RSP incl. Sales Tax, Fixed 2019 ex rates, Current Prices. Smartphone penetration calculatedas smartphone devices divided by population.
€30bn€100bn€100bn €80bn
LATAM CIS SEA ANZ
Countries 4 4 7 2
People 330m 210m 450m 30m
Smartphone Penetration 85%+ 120%+ 95%+ 100%+
FASHION & LIFESTYLE MARKET
COMPANY PRESENTATION: SEPTEMBER 2020
OUR MARKET IS LARGE WITH LONG-TERM RUNWAY FOR GROWTH
A LARGE MARKET OUTGROWING OTHERS FASHION AND LIFESTYLE SPENDING IN GFG FOOTPRINT1
5
LONG-TERM GROWTH POTENTIALFASHION AND LIFESTYLE ONLINE PENETRATION – GFG VS OTHER MAJOR MARKETS (2019)
Source: GFG calculations based on data from Euromonitor International Ltd: Apparel and Footwear 2020 edition, Beauty and Personal Care 2019 edition, Personal Accessories and Eyewear 2020 edition. Fashion and lifestyle market size refers to the aggregation of Apparel and Footwear, Beauty and Personal Care, and Personal Accessories and Eyewear. Retail value RSP incl. Sales Tax, Fixed 2019 ex rates, Current Prices. (1) GFG footprint refers to the fashion and lifestyle market in the 17 countries where it operates. (2) Based on fashion and lifestyle market CAGR from 2019-2023 in GFG footprint compared to Western Europe and United States.
7%
19%
22%23%
27%
0 %
5 %
10 %
15 %
2 0%
2 5%
3 0%
GFG Germany UK US China
4x
2023
€400bn+
2019
~€320bn
faster growthvs developed
markets2
>2x
United States ~€540bn China ~€550bn
COMPANY PRESENTATION: SEPTEMBER 2020
Survey conducted Pre-COVID
HOW WE WIN
6 COMPANY PRESENTATION: SEPTEMBER 2020
HOW WE BUILD THE LEADING ONLINE FASHION AND LIFESTYLE DESTINATION IN OUR MARKETS
7
2. STRATEGIC PARTNER TOLEADING BRANDS
• Gateway to growth markets
• Flexible and tailored business model
• Fashion-specific fulfilment and media solutions
1. INSPIRING AND SEAMLESS CUSTOMER EXPERIENCE
• Inspirational and localised discovery
• Most relevant assortment of global and local brands
• Seamless and tailored shopping experience
3. SCALABLE OPERATIONS AND PROPRIETARY TECHNOLOGY
• Fashion-centric operational infrastructure
• Rich data and tools to drive personalisation capabilities
• Best-in-class app for a mobile-first audience
COMPANY PRESENTATION: SEPTEMBER 2020
APPAREL (39%) FOOTWEAR (25%)
SPOR
T (17
%)
ACCE
SSOR
IES
(11%
)
KIDS, BEAUTY & OTHER (8%)
ROLLOUT OF NEW CATEGORIES ACROSS REGIONS
WE OFFER A BROAD, RELEVANT & UNPARALLELED ASSORTMENT ACROSS FASHION AND LIFESTYLE CATEGORIES
8
Note: Category splits based on FY2019 NMV share, excluding VAT/GST and delivery fees. (1) Based on Australia, Brazil and Russia.
ANZ SEA LATAM CIS
KIDS ◔ ◔ ◕ ◑
PREMIUM ◑ ◔ ◔ ◑
SPORT ◑ ◑ ◑ ◑
BEAUTY ○ ◔ ◔ ◔
HOME ○ ○ ◔ ◔
ASSORTMENT CATEGORY SPLIT2019 NMV SHARE
100-400kSKUs inmajor
markets1
COMPANY PRESENTATION: SEPTEMBER 2020
INSPIRATION + BRAND BUILDING
AFFORDABILITY, VOLUME, SCALE
WE ARE A HOUSE OF BRANDS INSPIRING ACROSS A WIDE PRICE SPECTRUM
9
Note: Based on a selection of GFG brands, list not comprehensive.
We work with
78%of the top 50 global brands
Unbranded
Fast Fashion
Core Mainstream
Premium Lifestyle
Premium Fashion /Entry Luxury
LuxuryGFG
Assortment
COMPANY PRESENTATION: SEPTEMBER 2020
46% 54%
0 % 10 % 2 0% 3 0% 4 0% 5 0% 6 0% 7 0% 8 0% 9 0% 10 0 %
79% 21%
0 % 10 % 2 0% 3 0% 4 0% 5 0% 6 0% 7 0% 8 0% 9 0% 10 0 %
77%
0 % 10 % 2 0% 3 0% 4 0% 5 0% 6 0% 7 0% 8 0% 9 0% 10 0 %
2019
THESE BUSINESS MODELS ENHANCE THE SCALABILITY OF OUR BUSINESS
10
FULFILLED BY GFGCROSS-DOCKING
DROP SHIPMENT
• Best model for core and low risk products
• Attractive gross margins
• Best model for new brands, new categories and long tail
• No inventory risk
• No working capital required
% OF SHIPPED ITEMS
CaymanA$2,190
Air MaxA$150
% OF NMV
% OF SKU’S
RETAIL MARKETPLACE
COMPANY PRESENTATION: SEPTEMBER 2020
WE OPERATE ALL MAJOR PARTS OF THE FASHION ECOMMERCE VALUE CHAIN TO ENSURE A SEAMLESS CUSTOMER EXPERIENCE
11
Note: Based on FY2019.
CUSTOMER SERVICE SOURCING DELIVERY & RETURNSPAYMENT FULFILMENT
EPRODUCTION
35+Localisedpayment methods
20%+Deliveries withown fleet
30k+Pick-up points
24/7Support in 11 languages
10Fulfilment centres
830k+Daily item output capacity
COMPANY PRESENTATION: SEPTEMBER 2020
APP CREATES A TRULY PERSONALISED EXPERIENCE FOR OUR CUSTOMERS
CONTENT & ADVICE THAT INSPIRE OUR CUSTOMERS…
12
… TOOLS TO CURATE WHAT THEY WANT TO SEE…
… CREATING A TRULY PERSONALISEDEXPERIENCE
E.G. COMPLETE THE LOOK E.G. SWIPE TO LIKE, FOLLOW THE BRAND UNIQUE, PERSONALISED FEED
COMPANY PRESENTATION: SEPTEMBER 2020
CUSTOMERS LOVE SPENDING TIME AND SHOPPING ON OUR APPS
APP IS A CRITICAL PART OF THE CONVERSION FUNNELSHARE OF VISITS FROM APP (%)
13
HALF OF SALES ARE NOW FROM APPNMV FROM APP (€M), SHARE OF NMV FROM APP (%)
30%32%
42%
2017 2018 2019
491
604
895
0
10 0
2 00
3 00
4 00
5 00
6 00
7 00
8 00
9 00
1, 00 0
2017 2018 2019
+38%
+45%37% 50%42%
Note: Growth rates are shown on a constant currency basis and therefore exclude the effect of foreign currency movements.
34mApp
downloads(+40% yoy)
COMPANY PRESENTATION: SEPTEMBER 2020
OUR FINANCIAL TRACKRECORD
14 COMPANY PRESENTATION: SEPTEMBER 2020
STRONG NMV GROWTH DRIVEN BY ACCELERATING ORDERSAT A PROFITABLE AVERAGE ORDER VALUE
NMV(€M)
15
ORDERS(M)
AVERAGE ORDER VALUE(€)
15%
21%1,453.5
1,777.8
2018 2019
Retail Marketplace
28.234.6
2018 2019
51.6 51.3
2018 2019
+23.0%1
+23.0%
+0.0%1
(1) Constant currency growth rate. Bars are a graphical representation of values on a constant currency basis.
COMPANY PRESENTATION: SEPTEMBER 2020
STRONG GROWTH IN CUSTOMERS, FREQUENCY AND ORDERS
2.22.4 2.5 2.6
2016 2017 2018 2019
ACTIVE CUSTOMERS(€M)
AVERAGE ORDER FREQUENCY(X)
NMV/ACTIVE CUSTOMER(€)
8.99.8
11.2
13.1
2016 2017 2018 2019
121
137130
136
2016 2017 2018 2019
16
+14% CAGR +4% CAGR+6% CAGR
COMPANY PRESENTATION: SEPTEMBER 2020
CUSTOMER ACQUISITION COSTS MANAGED WITHIN A CLEAR CORRIDOR
CAC OVER TIME1
(€)
17
DECLINE IN MARKETING COSTS AS % OF REVENUE DESPITE STRONG GROWTH IN MARKETPLACE SHARE(%)
0
5
10
15
2 0
2 5
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
13.9
11.6
9.8 9.7
2016 2017 2018 2019
(1) Values are expressed in constant currency, based on 31 December 2017 FX rates, to exclude the effect of FX changes.(2) Based on midpoint of range between maximum and minimum value.
2016 2017 2018 2019
Maintained within range2 of
+/-7%
Payback within
12months
COMPANY PRESENTATION: SEPTEMBER 2020
WE HAVE ACHIEVED ATTRACTIVE AND SUSTAINABLE UNIT ECONOMICSFY2019 (€M)
18
(1) Includes payroll costs of private label designers.(2) Marketing includes marketing payroll costs.(3) Costs adjusted for one-off fees, mainly due to GFG’s IPO.
(4) Calculated as gross profit less selling and distribution expenses,(5) Excluding share-based payments.(6) Includes other operating income and expenses.
COMPANY PRESENTATION: SEPTEMBER 2020
NMV VAT/GSTcommission/
other
Revenue Cost of sales1
Gross profit Fulfilment Marketing2,3 Contribution profit4
Tech & Admin3,5
D&A Other6 Adj. EBITDA5
Includes D&A
Includes D&A
1,346.0
1,777.8
539.8
(431.8)
(806.2)
(37.1)(0.2)61.6
(324.4)
(130.8)84.6 (183.1)
40.1% 24.1% 9.7% 6.3% 13.6%40.1% (2.8)%
Percent of revenue
RESULTING IN SIMULTANEOUS TOP-LINE GROWTH AND MARGIN EXPANSION
(1) Value of goods sold after cancellations, rejections and returns including VAT/GST and delivery fees.(2) Growth rates are shown on a constant currency basis and therefore exclude the effect of foreign currency movements.(3) Adjusted EBITDA is calculated as loss before interest and tax adjusted for depreciation of property, plant and equipment and right-of-use assets, amortisation of intangible assets and impairment losses, and adjusted for share-based
payment (income)/expenses as well as one-off fees related to the IPO, one-off tax adjustments, non-trading income and costs relating to the wind-down of a business discontinued pre-IPO.
2016 2017 2018 2019
ADJ. EBITDA MARGIN3
pp margin increase vs. previous period
REVENUE% Constant currency growth2
NMV1
% Constant currency growth2
19
(14.7)%Pre IFRS 16
(8.9)%Pre IFRS 16
+5.8PP
(4.3)%Post IFRS 16
+4.6pp
(2.8)%Post IFRS 16
+1.5pp
€887m €1,095m+20.1%
€1,156m+18.7%
€1,346m+17.2%
€1,076m €1,343m+20.5%
€1,453m+22.5%
€1,778m+23.0%
COMPANY PRESENTATION: SEPTEMBER 2020
DISCIPLINED INVESTMENT IN CAPEX AND WORKING CAPITAL MANAGEMENT
DISCIPLINED INVESTMENT IN FULFILMENT AND TECHNOLOGY(€M)
20
26.9
48.9
15.0
23.2
41.9
72.1
2018 2019
PP&E Additions
Intangible Additions
EFFICIENT WORKING CAPITAL(€M)
(10.3)
(12.0)
2018 2019
COMPANY PRESENTATION: SEPTEMBER 2020
ROBUST UNDERLYING GROWTH ACROSS ALL REGIONS
21 COMPANY PRESENTATION: SEPTEMBER 2020
ACTIVE CUSTOMERS
NMV REVENUE GROSS PROFIT
FY2019 (M, YOY GROWTH) (€M, YOY GROWTH1) (€M, YOY GROWTH1) (€M, MARGIN)
Group 13.1+17.0%
1,777.8+23.0%
1,346.0+17.2%
539.840.1%
LATAM 5.9+17.8%
557.8+21.9%
401.4+18.4%
164.641.0%
CIS 3.0+9.5%
598.7+24.4%
442.9+14.5%
187.242.3%
SEA 2.6+28.1%
276.3+31.6%
237.7+29.3%
74.931.5%
ANZ 1.6+12.5%
345.1+16.5%
263.8+14.4%
120.245.5%
(1) Constant currency growth rate.
Q2/20 PERFORMANCE AND OUTLOOK
22 COMPANY PRESENTATION: SEPTEMBER 2020
Q2 2020 HIGHLIGHTS
23
€488.3m NMV
+22.8% yoy1
10.6m ORDERS
+18.8% yoy
€263mPRO-FORMA CASH2
+2.8%ADJ. EBITDA MARGIN
+370bps yoy1
14.6m ACTIVE CUSTOMERS
+21.6% yoy
42.7%GROSS PROFIT MARGIN
+140bps yoy1
(1) Constant currency growth rate.(2) Includes restricted cash of €20m related to the RCF facility in place at the end of the period and approximately €10.5m drawn on local working capital facilities (Q1 20: €20m and €7.9m respectively).
COMPANY PRESENTATION: SEPTEMBER 2020
ACCELERATED CUSTOMER ACQUISITION, PROMISING Q2 COHORT
DEMAND SHIFT REFLECTS CUSTOMER ACTIVITIES IN LOCKDOWN
24
PROMISING Q2 CUSTOMER COHORTACCELERATED NEW CUSTOMER ACQUISITION(M)
1.3 1.5
Q2/19 Q2/20
NEW CUSTOMERS WITH 2 OR MORE ORDERS(%)
2025
Q2/19 Q2/20
ORDERS PER NEW CUSTOMER
25%
9%
1.6
2.5
Q2/19 Q2/20
+56%
Lingerie Beauty
Kids Apparel
Lounge-wear
Occasion-wear
Formal Shoes
Women’s Dresses
Bes
t per
form
ing
Wor
st p
erfo
rmin
g
Swimwear
Opportunity for customer acquisition
remains significant
COMPANY PRESENTATION: SEPTEMBER 2020
BRANDS LAUNCHED IN Q2
25
MARKETPLACEMORE BRANDS, MORE SKUS, MORE ITEMS
LATAM
CIS
SEA
ANZ
€85m
€152m
Q2 2019 Q2 2020
19% of NMV 31% of NMV
+90%1
Marketplace brands +c.50%
Marketplace SKUs +c.80%
Inventory intake -c.50%
(1) Constant currency growth rate.
Marketplace NMV oftop-30 brands
tripled YoY
COMPANY PRESENTATION: SEPTEMBER 2020
ACCELERATED DEVELOPMENT OF MARKETPLACE AND BRAND PARTNERSHIPS
SIGNIFICANT IMPROVEMENT IN ADJ. EBITDA MARGIN DRIVEN BY GROSS MARGIN AND LEVERAGE OF MARKETING
26
GROSS PROFIT
FULFILMENT COSTS
MARKETING COSTS1
TECH & ADMIN COSTS1
ADJUSTED EBITDA
39.7%
24.7%
10.2%
14.8%
(4.8)%
2019
41.8%
25.3%
8.6%
14.5%
(2.2)%
2020
210bps
(60)bps
160bps
30bps
260bps
∆Improvement driven by a significant increase in Marketplace share and trading the Retail business carefully during lockdown
Increase due to higher proportion of MP orders, of which 71% were fulfilled by GFG; fulfilment CPO down by 9%
Significant leverage due to removal of spend as a result of COVID-19, CAC at historic lows during the period
Continued margin improvement, Q2 profitable
H1
(1) 2019 costs adjusted for one-off fees, mainly due to GFG’s IPO
Tech investment offsetting reduction in admin CIR
COMPANY PRESENTATION: SEPTEMBER 2020
2020 GUIDANCE
27
NMV
REVENUE
ADJ. EBITDA MARGIN
CAPEX
• Constant currency growth of c. 20%
• FX changes in BRL and RUB impacting reported EUR result
• Slower than NMV reflecting the fast growth of MP
• FX changes in BRL and RUB impacting reported EUR result
• Intend to be Adj. EBITDA profitable no later than 2021
• Making significant progress in 2020 despite currency headwinds
• Investment for Brazil FC substantially completed in H1
• No need for significant spend on new CIS FC in FY20
2020 GUIDANCE
c. 20%c.€1.9bn
c. €1.3bn
Approaching Breakeven
No more than €45m
2020 (NEW)
+23%€1.78bn
+17%€1.35bn
(2.8)%
€72m
2019
17-20%>€2.0bn
c. €1.5bn
Profitable by 2021
c. €55m
2020 (CMD)
COMPANY PRESENTATION: SEPTEMBER 2020
MEDIUM-TERM GUIDANCE1 TO ACHIEVE AT LEAST A 6% ADJUSTED EBITDA MARGIN IN 3-4 YEARS‘ TIME
2019 MEDIUM-TERM
28
KEY ASSUMPTIONS
ADJUSTED EBITDA 6%+(2.8)%
• NMV growth 20%+ constant currency after 2020
GROSS MARGIN 40.1%
FULFILMENT COSTS (24.1)%
MARKETING COSTS (9.7)%
TECH & ADMIN COSTS (13.6)%
MARKETPLACE SHARE 30%+21.0%
NMV GROWTH 20%+23.0%
• Marketplace share aspiration of 30% of NMV
• Ongoing growth in gross margin with Marketplace tailwind
• Modest growth in Fulfillment CIR due to Marketplace mix
• Ongoing leverage on Tech & Admin costs as achieve scale
• 6%+ in 3-4 years time
• Modest further leverage in the marketing CIR
CAPEX Less than €50m+(72.1) • Capex less than €50m after 2020
COMPANY PRESENTATION: SEPTEMBER 2020
(1) Given at the Capital Markets Day presentation on 3-Mar-2020
APPENDIX
29 COMPANY PRESENTATION: SEPTEMBER 2020
0%
100%
ANZ SEA LATAM CIS
SHARE OF ONLINE FASHION AND LIFESTYLE IN GFG MARKETS (2019)
8 0%
10 0 %
Brand.com Fashion Pureplay GeneralMerchandise
DepartmentStores (online)
WE ARE THE CLEAR #1 WITHIN ONLINE FASHION PUREPLAY
30
GFG VS. #2 FASHION PUREPLAY BY ONLINE APPAREL AND FOOTWEAR SALES1 (2019)
#1
Source: GFG calculations based on data from Euromonitor International Ltd: Retailing 2020 edition, Retail value RSP incl. Sales Tax, Fixed 2019 ex rates, Current Prices. Ranking position based on estimated by Euromonitor online sales of apparel and footwear products in researched GFG countries in 2019, including specialist fashion and lifestyle apparel and footwear online retailers only. (1) Based on GFG markets only.
#1#1 #1
8%of total market
EXAMPLES: EXAMPLES:
€22bn
EXAMPLES:EXAMPLES:
COMPANY PRESENTATION: SEPTEMBER 2020
HIGH CUSTOMER LOYALTY, WITH GROWING SHARE OF NMV FROM EXISTING CUSTOMERS
31
NMV BY COHORT1
(€M)
71% OF NMV FROM EXISTING CUSTOMERS
Source: Company information. To ensure comparability between periods we have adjusted values for prior periods for acquisitions, disposals and corporate restructurings.(1) Values are expressed in constant currency, based on 31 December 2017 FX rates, to exclude the effect of FX changes.
44%
37%
32%
29%
2016 2017 2018 2019
2015 and prior 2016 Cohort 2017 Cohort 2018 Cohort 2019 Cohort
€1.1bn€1.3bn
€1.5bn
€1.8bn
COMPANY PRESENTATION: SEPTEMBER 2020
RETAIL SPACEINFRASTRUCTURE TERRAIN REGULATION
WE UNLOCK A HUGE, GROWING MARKET THAT IS COMPLEX FOR BRANDS TO ACCESS
32
• Lack of retail space vs developed markets
• US has 5x more retail space1 than our combined footprint
• Underdeveloped infrastructure and ecommerce solution providers
• Population located across vast and remote areas
• Complex import processes, regulatory and tax environments
7%Retail space per capita2 in GFG countries vs US
Source: GFG calculations based on data from Economist Intelligence Unit via SNL, World Bank International Logistics Performance Index (LPI) 2018, The World Bank: Land area: Food and Agriculture Organization.(1) Based on median LPI ranking of GFG countries. (2) Including clothing stores, shoe stores, and perfumeries/beauty stores.
~50 >1/3 ~80%Average logistics
performance index ranking1 (out of 160)
of global land mass
of GFG items supplied locally
COMPANY PRESENTATION: SEPTEMBER 2020
WE OFFER BRANDS MULTIPLE PARTNERSHIP MODELS, TAILORED TO THEIR REQUIREMENTS
33
(1) GFG consolidates mixed orders at own fulfilment centre in Argentina, Chile and Colombia.
RETAILMARKETPLACE
FULFILLED BY GFG CROSS-DOCKING DROP SHIPMENT
ARGENTINA, CHILE, COLOMBIA, SEA (SOME) ANZ, BRAZIL, SEA (SOME)CIS, SEA (SOME)
High LowTAKE RATE / LEVEL OF SERVICE PROVIDED BY GFG
FRONT-END
PRODUCT OWNERSHIP
STORAGE
PICKING & PACKING
DELIVERY
GFG (including payment, customer service, returns)
GFG owns product& pricing
Brand owns product & pricing; books full retail valueGFG take rate dependent on fulfilment model
GFG Brand
GFGBrand picks & packs; GFG
manages delivery, incl.order consolidation1
Brand
GFG (own or 3rd party) Brand
COMPANY PRESENTATION: SEPTEMBER 2020
ILLUSTRATIVE 2019 P&L OF MARKETPLACE1
MARKETPLACE FULFILMENT IN INCOME STATEMENT
34
• Profitability of Marketplace is higher than Retail as a percentage of Revenue and of NMV
• “Fulfilled by GFG” Marketplace inflates fulfilment CIR as percentage of Revenue, but not as share of NMV
• Illustration:
- If the Group achieves 30% Marketplace share it would see gross margin increase by 3pp of Revenue, and 1pp would be spent on higher fulfilment CIR
(1) Based on Unaudited information & simplified for presentation.(2) Cost Income Ratio shown as a proportion of NMV Product Value (excluding VAT and excluding shipping fees).
GFG RETAIL MARKET PLACE
SHARE OF NMV 100% 79% 21%
RETAIL MARGIN / TAKE-RATE - 35% 32%
FULFILMENT COSTS
% REVENUE 24% 22% 50%
% NMV2 22% 23% 16%
PROFIT AFTER FULFILMENT
% REVENUE 16% 13% 50%
% NMV2 14% 13% 16%
COMPANY PRESENTATION: SEPTEMBER 2020
TAILORED APPROACH TO EACH MARKET ENABLES RETURN RATES WELL BELOW INDUSTRY LEVELSRETURNS BY SEGMENT(% OF 2019 SHIPPED ITEMS)
35
Note: Excludes item rejections, which were 1% in APAC, 1% in LATAM and 66% in CIS.
24%APAC
8%LATAM
1%CIS
Enabled by 80% “try-on” orders
COMPANY PRESENTATION: SEPTEMBER 2020
NOW ADJUSTED EBITDA PROFITABLE IN REGIONS REPRESENTING OVER 80% OF GROUP REVENUE
REGIONAL ADJUSTED EBITDA IN FY 2019(€M)
• LATAM, CIS and Australia within APAC have positive Adjusted EBITDA
• Profitable regions account for >80% of revenue (2018: >50% of revenue)
• SEA remains Adjusted EBITDA negative, but showed significant year on year improvement in 2019
36
6.14.3 (22.4)
(25.1)
(37.1)
LATAM CIS APAC Group Total
COMPANY PRESENTATION: SEPTEMBER 2020
DISCLAIMER
Certain statements included in this document are forward-looking statements. Forward-looking statements can typically beidentified by the use of words such as “expects”, “may”, “will”, “could”, “should”, “intends”, “plans”, “predicts”, “envisages” or“anticipates” or other words of similar meaning. These forward-looking statements are based upon current expectations andassumptions regarding anticipated developments and other factors affecting the Global Fashion Group S.A. (“GFG”) and itsgroup (the “GFG Group”). They are not historical or current facts, nor are they guarantees of future performance.
By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actualresults or events to differ materially from those expressed or implied by the forward-looking statements. These risks,uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described inthis document. These forward-looking statements speak only as of the date of this announcement. Except as required by anyapplicable law or regulation, the GFG Group expressly disclaims any obligation or undertaking to release publicly anyupdates or revisions to any forward-looking statements contained in this document to reflect any change in the GFG Group’sexpectations with regard thereto or any change in events, conditions or circumstances on which any such forward-lookingstatement is based. Neither GFG nor any other person accepts any responsibility for the accuracy of the opinions expressedin this document or the underlying assumptions.