Giglio.com Spa · MIL:GCOM
Giglio.com Spa — FY2023 Earnings Presentation
36 slides from Giglio.com Spa's earnings presentation, Mar 26, 2024
Slide 1: Investor Presentation - Financial Results 2023
INVESTOR PRESENTATION - FINANCIAL RESULTS 2023 26-03-2024
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: GIGLIO.COM: 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 +40% ➢ Strong track record of GMV growth with a 40% CAGR in the period from 2015 to 2023 ➢ In 2023, reached 65.9 mln € GMV and 56.3 mln € revenues, confirming a strong +15% v
Slide 4: 2023's key financials
2023’s key financials A robust growth combined with an improved profitability REVENUES GROSS PROFIT MARGIN all figures in mln +10% +1.4 pt LOGISTIC EXPENSES ON REVENUES EBITDA MARGIN +0.5 pt +1.6 pt
Slide 5: 2023's milestones
2023’s milestones The main events of the year Q1 2023 Q2 2023 Q3 2023 Q4 2023 Capacity to serve: opened a 3,500sm logistic Sustainability: launched a prestigious Capacity to serve: opened a 3,500sm shooting Design & Lifestyle department: launched a hub to boost the capacity to fulfill the orders. pa
Slide 6: 2023 in numbers
➢ Solid revenues growth: +10% vs. 2022 STRONG GROWTH ➢ Strong improvement of the Average Item Value (+6%) as higher-end fashion brands take shares ➢ A more and more diversified international customer base, with 65% of INTERNATIONAL GMV happening outside Italy EXPANSION ➢ Focus on European foreign ma
Slide 7: Deep dive: economic and financial KPIs
Deep dive: economic and financial KPIs + GMV page 8-9 ➢ Revenues and gross profit page 10-12 - Marketing & Communication page 13-14 - Fulfillment expenses page 15 - Technology page 16-17 ➢ EBITDA page 18-20 ➢ 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 +58% Despite the adverse market outlook, a solid growth of the business vs. both 2022 (+15%) and 2021 (+58%), resulted in 65.9 +15% mln € GMV, with a r
Slide 9: GMV | growth well above the industry benchmark
GMV | growth well above the industry benchmark The growth of the 2023’s revenue is well above the leading peers LUXURY & FASHION E-COMMERCE PEERS’ GROWTH vs. 2022 YNAP Despite the adverse economic SALES outlook and a sudden slowdown of the digital consumption, which MYTHERESA have led to massive lay
Slide 10: Revenues and Gross profit | Strong improvement of marginality
Revenues and Gross profit | Strong improvement of marginality Gross profit growth supported by a considerably improved marginality REVENUES AND GROSS PROFIT MARGIN GROSS PROFIT all figures in mln +61% +16% Considerably improved marginality of the company (29.1% vs. 27.7% in As a result of the above,
Slide 11: Revenues | A new business line
Revenues | A new business line Entered the circular economy to give a second life to customers’ timeless fashion pieces GIGLIO.COM x Vestiaire Collective GIGLIO.COM takes a significant step forward in its path towards a more sustainable development strategy. Vestiaire Collective’s online resale serv
Slide 12: Revenues | A new business line
Revenues | A new business line Launched a brand new Lifestyle department Lifestyle Department A brand new lifestyle department has been launched in order to extend the offer and give an even more comprehensive shopping experience. Among the brands featured in the catalog: Ginori 1735, Brunello Cucin
Slide 13: Marketing & Communication | Outstanding Marketing Fundamentals
Marketing & Communication | Outstanding Marketing Fundamentals A growth supported by controlled and highly efficient marketing investments as focus on nurturing the customer base increases STRONG NEW CUSTOMER ACQUISITION AND COMPETITIVE COST OF ACQUISITION ACTIVE CUSTOMER BASE* Thanks to a strong an
Slide 14: Marketing & Communication | Continuous investments in awareness
Marketing & Communication | Continuous investments in awareness Placements both online and offline to increase the brand awareness Billboards and led screens were placed in some of the most strategic Sicilian destinations in order to target affluent tourists during the months of July and August. Spe
Slide 15: Fulfillment | Optimization and efficiency
Fulfillment | Optimization and efficiency Optimized the supply chain with a new hub in Milan 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 of third
Slide 16: 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 all figures in mln Strong proprietary technology upgraded with new functionalities for the final +7% +4% consumer, such as - Automated marketing campaigns trigg
Slide 17: Technology | Mobile APP release
Technology | Mobile APP release Granting the best user experience with the launch of a brand new mobile APP Released the mobile APP As part of the continuous investment in technology, customer experience and loyalty, a mobile APP was released on the Android Play Store and Apple's App Store that will
Slide 18: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability Strongly improved Adjusted EBITDA suggests a positive path to profitability ADJ EBITDA MARGIN A quick and on track return to profitability is confirmed by the Adjusted EBITDA margin, which shows considerable improvements both vs. 2022 (+160 bsp) and vs. 2
Slide 19: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability EBITDA MARGIN: 2023 vs. 2022 Fulfillment expenses The Adjusted EBITDA margin shows a considerable improvement vs. 2022 (+160 bsp) Gross profit margin Others mostly explained by: - The actions implemented to improve the gross profit margin (+140 bsp) - The
Slide 20: EBITDA | Road to profitability
EBITDA | Road to profitability Combining ambitions to growth with a gradual return to profitability 2023 2024 2025 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. 2022 vs. LY 2023 on total revenue 2022 on total revenue (all numbers in k) on total revenue Revenue € 56,283 € 51,112 Cost of revenue -€ 39,933 -70.9% -€ 36,957 -72.3% 1.4 Gross Profit € 16,350 29.1% € 14,154 27.7% 1.4 Marketing expenses -€ 2,690 -4.8% -
Slide 22: Balance sheet
Balance sheet Balance sheet vs. end of 2022 (all numbers in k) 12/31/2023 12/31/2022 Delta Intangible fixed assets € 6,556 € 6,330 € 226 Tangible fixed assets € 1,377 € 812 € 565 Total fixed assets € 7,933 € 7,142 € 791 Inventories € 110 € 79 € 32 Trade receivables € 783 € 814 -€ 31 Trade payable -€
Slide 23: Before you leave… Would you like to take a closer look to GIGLIO.COM?
Before you leave… Would you like to take a closer look to GIGLIO.COM? 23
Slide 24: Annex: Who we are
ANNEX WHO WE ARE GIGLIO.COM
Slide 25: Our Story
Our Story Born in 1996 with the first online fashion boutique in Italy: GIGLIO.COM 2016 2017 2021 2022 From 1P to 3P GIGLIO.COM in FT1000 We are 100 GIGLIO.COM in Piazza Exceeded 50 mln € revenue Affari and 125k active customers The company reaches a Since 2017, the Financial The employee team now A
Slide 26: 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 27: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques MONTH 0 MONTH +9 MONTH +15 MONTH +18 Brands WHOLESALE The wholesaler The wholesaler pays The wholesaler sells the The unsold stock is Wholesaler MODEL orders the collection the
Slide 28: A solid business model: an innovative marketplace
A solid business model: an innovative marketplace An innovative business proposition connecting over 200 fashion boutiques RISK-FREE CASH CATALOG SUPPLY CHAIN INTERACTION PLATFORM INVENTORY GENERATIVE CONTROL & FULFILLMENT WITH CUSTOMER Different from the wholesalers Unlike Mytheresa, Luisaviaroma a
Slide 29: A solid business model: unparalleled selection
A solid business model: unparalleled selection Sourcing inventory from more than 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
Slide 30: A solid business model: unparalleled selection
A solid business model: unparalleled selection Photo Shooting more than 100.000 products per season in our hubs NUMBER OF PRODUCT PAGES SHOT IN OUR HUBS Photo shooting almost 100k products per season in our logistic hubs. Recent impressive acceleration: FW23 saw a +21% of product pages produced vs.
Slide 31: 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 32: 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 33: 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 34: 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 Aug. 31st 2023 MANAGEMENT
Slide 35: A solid business model: a global presence
A solid business model: a global presence Bringing luxury fashion to a global consumers’ demand Italy 35% Oth. Europe 29% North America 10% APAC 20% From the boutiques... to GIGLIO.COM... RoW 6% GMV 2023 by geo-area Addressing fashion lovers around the world - 150 countries served, - 10 languages av
Slide 36: GIGLIO.COM
GIGLIO.COM