Giglio.com Spa · MIL:GCOM
Giglio.com Spa — FY2022 Earnings Presentation
34 slides from Giglio.com Spa's earnings presentation, Mar 23, 2023
Slide 1: Investor Presentation - Financial Results 2022
INVESTOR PRESENTATION - FINANCIAL RESULTS 2022 23-03-2023
Slide 2: GIGLIO.COM: a solid business model
GIGLIO.COM: a solid business model A strong business model delivering a strong performance STRONG BUSINESS MODEL STRONG PERFORMANCE An innovative marketplace, a community of over 200 Long-term track record of revenue growth confirmed connected boutiques and brands. Unlike other during and after the
Slide 3: A long term track record of GMV growth
GIGLIO.COM: a long term track record of GMV growth Accelerating GMV growth despite the difficult macro-economic scenario CAGR +45% ➢ Strong track record of GMV growth with a 45% CAGR in the period from 2015 to 2022 ➢ in 2022 confirmed a strong +38% GMV growth despite the current macro-economic slowd
Slide 4: 2022's key financials
2022’s key financials A robust growth combined with an improved profitability REVENUES GROSS PROFIT MARGIN all figures in mln +35% +0.9 pt LOGISTIC EXPENSES ON REVENUES EBITDA MARGIN +0.9 pt +2.7 pt
Slide 5: 2022's milestones
2022’s milestones The main events of the year Q1 2022 Q2 2022 Q3 2022 Q4 2022 Capacity to serve: opened a new logistic hub Sustainability: launched a sustainable bag Metaverse: launched the Giglio Token to One million Euros worth of sale in a day: hit a near Milan to boost the logistic capacity and
Slide 6: 2022 in numbers
➢ Strong revenues growth: +35% vs. 2021 STRONG GROWTH ➢ Strong improvement of the AOV (+10%) as higher-end fashion brands take shares ➢ A more and more diversified international customer base, with almost 70% of GMV happening outside Italy INTERNATIONAL ➢ Focus on cross-border business paid back wit
Slide 7: Deep dive: economic and financial KPIs
Deep dive: economic and financial KPIs + GMV page 8-10 ➢ Revenues and gross profit page 11 - Marketing & Communication page 12-14 - Fulfillment expenses page 15 - HR, consultants and services page 16 - Technology expenses page 17-18 ➢ EBITDA page 19-20 ➢ P&L page 21 ➢ Balance sheet page 22
Slide 8: Gross Merchandising Value (GMV) | Strong growth
Gross Merchandising Value (GMV) | Strong growth Supported by a wider Community Store and international expansion GMV YEARLY TREND all figures in mln +117% +38% Yo2Y GMV GROWTH The +117% 2-year GMV growth registered in 2022, represent the strongest growth of the company’s recent history. Internationa
Slide 9: GMV | growth well above the industry benchmark
GMV | growth well above the industry benchmark The growth of the 2022’s revenue is well above the leading peers LUXURY E-COMMERCE PEERS GVM GROWTH VS. 2021 Despite an adverse macroeconomic outlook and a sudden slowdown of the digital consumptions which has led to massive layouts among the tech compa
Slide 10: GMV | International expansion
GMV | International expansion Strong performance delivered in international markets GMV GROWTH BY REGION GMV SHARE BY REGION Strong performance as focus on the international markets increases 2020 2022 NORTH AMERICA MENA AND ROW EUROPE APAC The share of GMV outside Europe went from 53% to 57% in two
Slide 11: Gross profit and revenues | Strong improvement of marginality
Gross profit and revenues | Strong improvement of marginality Gross profit growth supported by a considerably improved marginality REVENUES AND GROSS PROFIT MARGIN all figures in mln Considerably improved marginality of the company (27.7% vs. 26.8%) as a result of: +0.9 pt International development
Slide 12: Marketing | Outstanding Marketing Fundamentals and Orders KPIs
Marketing | Outstanding Marketing Fundamentals and Orders KPIs Strong growth of the customer base and its order’s kpis despite a controlled marketing investment ACTIVE CUSTOMERS AVERAGE ORDER VALUE all figures in k % YOY growth +22% % YOY growth +10% Active customer base growing fast and reaching al
Slide 13: Marketing & Communication | Continuous investments in awareness
Marketing & Communication | Continuous investments in awareness Placements both online and offline to increase the brand awareness Summer Campaign: Proudly Made in Mediterraneo Our on-the-road summer campaign, follows the camper journey of a group of friends in search of an unconventional summer wit
Slide 14: Marketing & Communication | Continuous investments in brand building
Marketing & Communication | Continuous investments in brand building Affirming the brand’s value with special projects Sustainability Inclusiveness Risacca x GIGLIO.COM All Kids Have Talent A project of environmental sustainability and social inclusivity A project in partnership with the nonprofit o
Slide 15: Fulfillment | Optimization and efficiency
Fulfillment | Optimization and efficiency Optimized the supply chain with a new hub in Milan OPTIMIZED FULFILLMENT EXPENSES Fulfillment = transport, handling and packaging all figures in mln In-housed logistics in Milan with the opening of a new hub in Vimodrone (MI), avoiding all the inefficiencies
Slide 16: HR and consultants | efficient rationalization of the human resources
HR and consultants | efficient rationalization of the human resources Better absorption of the fixed costs such as HR, consultants and services OPTIMIZED HR AND CONSULTANTS EXPENSES HR, consultants and services all figures in mln After having structured a wide part of the management during the 2021,
Slide 17: Technology | Conversion Rate strongly boosted by tech upgrades
Technology | Conversion Rate strongly boosted by tech upgrades Technology expenses boosting the performance of the platform CONVERSION RATE Strong proprietary technology upgraded with new functionalities for +28% the final consumer, such as - A new algorithm for ranking the products based on their +
Slide 18: Technology | Giglio Token
Technology | Giglio Token Entering the metaverse to address the new generations New horizons confirm the pioneering spirit of the company Simple, innovative and safe, GIGLIO tokens are the first cryptocurrency in the luxury fashion world. Created within Liquid, the network developed by Blockstream t
Slide 19: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability Strongly improved EBITDA suggests positive path to profitability EBITDA MARGIN: 2022 vs. 2021 EBITDA & Revenues: H1 2022 vs.H2 2022 all figures in mln Duties & taxes Others HR & consultants Fulfillment expenses EBITDA margin Gross profit margin EBITDA mar
Slide 20: EBITDA | Road to profitability
EBITDA | Road to profitability Combining ambitions to growth with a gradual return to profitability 2022 2023 2024 Increase international share of sales to improve marginality Keep developing the e-concession model with the brands in order to reduce intermediations Build a strong commercial team to
Slide 21: Profit & Loss
Profit & Loss Revenues and cost structure vs. 2021 vs. LY 2022 on total revenue 2021 on total revenue (all numbers in k) on total revenue Revenue € 51,112 € 37,923 Cost of revenue -€ 36,957 -72.3% -€ 27,777 -73.2% 0.9 Gross Profit € 14,154 27.7% € 10,147 26.8% 0.9 Marketing expenses -€ 2,307 -4.5% -
Slide 22: Balance sheet
Balance sheet Balance sheet vs. end of 2021 (all numbers in k) 12/31/2022 12/31/2021 Delta Intangible fixed assets € 6,330 € 6,814 -€ 484 Tangible fixed assets € 812 € 304 € 508 Total fixed assets € 7,142 € 7,117 € 25 Inventories € 79 € 36 € 43 Trade receivables € 814 € 430 € 385 Trade payable -€ 7,
Slide 23: Before you leave… Would you like to watch our campaign?
Before you leave… Would you like to watch our campaign “Proudly Made in Mediterraneo”?
Slide 24: Annex: Who we are
ANNEX WHO WE ARE GIGLIO.COM
Slide 25: Things to know about GIGLIO.COM
Things to know about GIGLIO.COM GIGLIO.COM is a global independent marketplace devoted to style, A DIFFERENT AND INNOVATIVE BUSINESS MODEL committed to offering its customers a truly superb experience. More GIGLIO.COM is an innovative marketplace, a community of over than 600 luxury brands for women
Slide 26: Our Story
Our Story Born in 1996 with the first online fashion boutique in Italy: GIGLIO.COM 2017 2020 2021 2022 GIGLIO.COM in FT1000 GIGLIO.COM on SKY We are 100 GIGLIO.COM in Piazza Reached 50 mln € revenue Affari and 125k active customers Since 2017, the Financial The first TV advertising The employee team
Slide 27: Business Model
Business Model An innovative proposition INVENTORY RISK CATALOG SUPPLY CHAIN INTERACTION PLATFORM CONTROL & FULFILLMENT WITH CLIENT Different from the wholesalers Unlike Mytheresa, Luisaviaroma and other stores, GIGLIO.COM does not WHOLESALE stock any inventory, does not bear the cost of stocking it
Slide 28: A solid business model: unparalleled selection
A solid business model: unparalleled selection Sourcing inventory from almost 200 partners: our Community Store THE COMMUNITY STORE Number of Partners BRANDS IN E-CONCESSION MODEL Dozens of brands connected through an e-concession model, integrating their collections into GIGLIO.COM MULTI-BRAND STOR
Slide 29: A solid business model: fully owned and flexible technology
A solid business model: fully owned and flexible technology A fully owned technology as a competitive advantage Scalability Business continuity Cyber security Personalized experience Early planning Extensive selection of brands Global flexibility Attractive layout Reliability Portability Saving func
Slide 30: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” A melting pot of cultures, peoples and aesthetic values. We are tireless seekers of beauty. We are inspired by the vitality and sense of inclusiveness typical of the Mediterranean, which are part of everythi
Slide 31: A solid business model: strong branded DNA
A solid business model: strong branded DNA A curated boutique “Proudly Made in Mediterraneo” Inclusiveness Sustainability Reliability Our mission is to enhance inclusive We promote system change with greater The satisfaction of our customers is the beauty (ethnic, physical, and gender) ecological in
Slide 32: Management Team
A solid business model: growing managerial structure Structuring a solid and experienced management team FOUNDERS FOUNDERS EMPLOYEES BREAKDOWN Breakdown by age Breakdown by gender GIUSEPPE GIGLIO FEDERICO GIGLIO CO-CEO & CO-FOUNDER CO-CEO & CO-FOUNDER # of employees, as of Dec. 31st 2022 MANAGEMENT
Slide 33: A solid business model: a global presence
A solid business model: a global presence Bringing luxury fashion to a global consumers’ demand Italy 31% Oth. Europe 18% North America 12% APAC 32% From the boutiques... to GIGLIO.COM... RoW 7% GMV 2022 by geo-area Addressing fashion lovers around the world - 150 countries served, - 10 languages av
Slide 34: GIGLIO.COM
GIGLIO.COM