Giglio.com Spa · MIL:GCOM
Giglio.com Spa — H1 2023 Earnings Presentation
34 slides from Giglio.com Spa's earnings presentation, Sep 5, 2023
Slide 1: Investor Presentation - Financial Results H1 2023
INVESTOR PRESENTATION - FINANCIAL RESULTS H1 2023 05-09-2023
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: 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 +45% ➢ Strong track record of GMV growth with a +45% CAGR in the period from 2015 to 2022 ➢ In 2022, GMV exceeded 57 mln € and revenues surpassed 51 mln € ➢ H1 2023 confirmed
Slide 4: H1 2023's key financials
H1 2023’s key financials A robust growth combined with an improved profitability REVENUES GROSS PROFIT MARGIN all figures in mln +23% +110 bsp LOGISTIC EXPENSES ON REVENUES ADJUSTED EBITDA MARGIN +120 bsp +390 bsp
Slide 5: H1 2023's milestones
H1 2023’s milestones The main events of the semester Q1 2023 Q2 2023 Q3 2023 Capacity to serve: opened the first half of a new Sustainability: launched a prestigious partnership with Branding campaign and billboards: launched a 7,000sm logistic hub near Palermo to boost the the market leader Vestiai
Slide 6: H1 2023 in numbers
➢ Strong revenues growth: +23% vs. 2022 and +78% vs. 2021 STRONG GROWTH ➢ Strong improvement of the AIV (+7%) as higher-end fashion brands take shares CUSTOMER LOYALTY, ➢ Reached 145k active customers over 12-months ACQUISITION AND ➢ Increased customer acquisition vs. H1 2022 (+29%) thanks to a bril
Slide 7: Deep dive: economic and financial KPIs
Deep dive: economic and financial KPIs + GMV page 8-9 ➢ Revenues and gross profit page 10-11 - Marketing & Communication expenses page 12-13 - Fulfillment expenses page 14 - HR, consultants and services expenses page 15 - Technology expenses page 16-17 ➢ EBITDA page 18-20 ➢ P&L page 21 ➢ Balance she
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 +84% +28% Despite the adverse market outlook, a strong acceleration of the business vs. both 2022 (+28%) and 2021 (+84%), resulted in 31.6 mln € GMV, w
Slide 9: GMV | growth well above the industry benchmark
GMV | growth well above the industry benchmark The growth of the H1 2023’s revenue is well above the leading peers LUXURY E-COMMERCE PEERS GVM GROWTH VS. 2022 Despite an adverse macroeconomic outlook and a sudden slowdown of the digital consumptions which has led to massive layouts among the tech co
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 +111% +29% Considerably improved marginality of the company (28.8% vs. 27.6% 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 the customers’ timeless fashion pieces GIGLIO.COM x Vestiaire Collective GIGLIO.COM tekes a significant step forward in its path towards a more sustainable development strategy. Vestiaire Collective’s online resale
Slide 12: 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 CUSTOMERS ACQUISITION AND COMPETITIVE COST OF ACQUISITION ACTIVE CUSTOMER BASE* Thanks to a strong a
Slide 13: 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 activated in some of the most strategic tourist Sicilian destinations in order to target affluent tourists during the months of July and
Slide 14: 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 15: 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 HR AND CONSULTANTS EXPENSES HR, consultants and services all figures in mln After having structured a wide part of the management during the 2021, the 2023
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 +11% +6% consumer, such as - Automated marketing campaigns trig
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 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 The seasonality of the business structurally shows a shows considerable imp
Slide 19: EBITDA | Strong improvement in profitability
EBITDA | Strong improvement in profitability The waterfall shows the main reasons explaining the 390 bsp jump in profitability ADJ EBITDA MARGIN The EBITDA margin shows a considerable improvement vs. 2022 (+390 bsp) mostly explained by: - The actions implemented to Other expenses improve the gross p
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. H1 2022 vs. LY H1 2023 on total revenue H1 2022 on total revenue (all numbers in k) on total revenue Revenue € 27,130 € 21,971 Cost of revenue -€ 19,322 -71.2% -€ 15,897 -72.4% 1.1 Gross Profit € 7,807 28.8% € 6,074 27.6% 1.1 Marketing expenses -€ 1,175
Slide 22: Balance sheet
Balance sheet Balance sheet vs. end of 2022 (all numbers in k) 30/06/2023 12/31/2022 Delta Intangible fixed assets € 6,328 € 6,330 -€ 2 Tangible fixed assets € 1,304 € 812 € 492 Total fixed assets € 7,632 € 7,142 € 490 Inventories € 89 € 78 € 10 Trade receivables € 563 € 814 -€ 252 Trade payable -€
Slide 23: Before you leave… Nonnarchy campaign
Before you leave… Would you like to watch our Nonnarchy campaign? We celebrated the most influential figure of the Mediterranean family: the nonna.
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 Exceeded 50 mln € revenue Affari and 125k active customers Since 2017, the Financial The first TV advertising The employee tea
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 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 S
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 Oct. 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