Zalando hails strong first half performance
Online fashion retailer Zalando has expanded its customer base by 20.4% in the first half of 2020 and now has more than 34 million active customers across Europe.
During the period, the company’s gross merchandise volume climbed by 25.1% to €4.72 billion as revenue increased by 19.6% to €3.56 billion. In addition, Zalando achieved an adjusted EBIT of €113.3 million at a margin of 3.2%
Zalando chief financial officer David Schröder said: “In the past months we have proven the strength and agility of Zalando in many ways, no matter how challenging the environment. We have come out of the first wave of this pandemic stronger than we went into it as a result of our strategic clarity, our strong partnerships and an extraordinary team effort. Many of our partners have intensified their business on our platform in the last months, and we have managed to successfully grow together.”
In the second quarter of 2020, around 180 new brand partners signed up to Zalando’s partner programme which grew by over 100% on the same period last year.
In the second half of the year, Zalando will be accelerating growth in its Connected Retail programme which enables bricks-and-mortar retailers to scale their digital business.
