EQS-Adhoc: Global Fashion Group S.A.: GFG AGREES TO SELL CIS BUSINESS LAMODA

Global Fashion Group S.A.

(the Company or GFG)

Luxembourg, 7 October 2022: GFG agrees to sell CIS business Lamoda

Global Fashion Group (GFG) announces that it has agreed today to sell its Lamoda business with operations in Russia, Kazakhstan and Belarus to fashion retail investor, Iakov Panchenko.

The agreement remains subject to certain conditions, including regulatory approval, with closing expected to occur in the coming months. GFG expects proceeds of approximately one hundred million Euros in addition to the value of the cash held in the Lamoda business as at 30 September 2022.

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Name of person making the announcement: Andin Fonyonga, Group Head of Legal & Compliance

Investor Relations:

Jo Britten

Investor Relations Director

investors@global-fashion-group.com 

Media Contact:

Jovana Lakcevic

Head of PR & Communications

press@global-fashion-group.com