Luxembourg-based Global Fashion Group (GFG), a publicly-traded fashion ecommerce company, has raised about €120M in a fresh round of funding. According to the company, it was done through a placement of 16.5 million new shares at a price of €7.30 per share.
The raised capital will be used to accelerate GFG’s expansion of its marketplace and fashion services businesses. Besides, the funds will also be invested in GFG’s technology to streamline its e-commerce business, currently popular in emerging markets, on a global scale.