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GFG playing a leading role in influencing demand and supply for more sustainable fashion

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gfgGlobal Fashion Group (GFG), an online fashion and lifestyle destination in emerging markets, intends to accelerate its marketplace and platform services by focusing on technology development. For this purpose, the group has issued seven-year senior unsecured bonds with a principal amount of €375 million that is convertible according to the terms and conditions of the bonds. The company is proud to have fulfilled the following 2022 targets ahead of schedule:

  • Delivering sustainable shopping edits in 100% of its regions
  • Recycling 75% of waste in 2020, exceeding 2022 target of 50%; target has since been raised to 80%
  • Delivering training programs for 67% of own brand factories, exceeding 2022 target of 50%

GFG plays a leading role in influencing demand and supply for more sustainable fashion where its businesses operate in  Latin America (LATAM), Commonwealth of Independent States (CIS), Southeast Asia (SEA), and Australia New Zealand (ANZ). It is the first major online retailer to release sustainable shopping edits in these regions, making sustainable fashion more accessible to millions of consumers. More than 1.2 million customers globally have purchased an item from a GFG sustainable shopping edit since January 2020 and the business has set a target for 10% of Group NMV to come from items meeting sustainable product criteria by the end of 2021.

GFG is also proactively managing the environmental impacts of its own operations. The company is working to lower emissions in last-mile delivery and has launched pilot programs including electric vehicle delivery in LATAM and ANZ and delivering orders by foot in CIS. A full assessment of GFG’s global carbon footprint was completed for the first time in 2020, and will be followed by the setting of Group-wide Science Based Targets by the end of 2021.

 

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