Zalando achieves faster than expected growth
Zalando has posted faster than expected growth in 2021 with gross merchandise volume up 34.1% to €14.3 billion and revenue up 29.7% to €10.4 billion after it benefited from strong customer demand and an increase in partner adoption of its platform services.
Meanwhile, adjusted EBIT came in at €468.4 million, corresponding to a margin of 4.5%.
Subscribe to TRBRobert Gentz, co-chief executive at Zalando, said: “We are very pleased with our strong results, which demonstrate that we have the right strategy in place to succeed irrespective of the market environment. Our new customer growth and strategic progress in 2021 underline the immense opportunity ahead of us. Leveraging our platform business model, we are in a strong position to achieve our GMV goal of more than €30 billion by 2025. We would like to thank the entire Zalando team for their commitment and flawless execution working towards that goal.”
During the year, Zalando acquired more than 10 million new customers and expanded its reach to serve more than 48 million active customers across 23 markets. This includes the six new markets of Croatia, Estonia, Latvia, Lithuania, Slovakia, Slovenia which were launched last year.
Zalando is planning to invest more in its European logistics network which currently includes 12 fulfilment centres in seven countries. The company will add four centres to the existing network by 2023, and will open its best-in-class fulfilment solutions up to partners over the next 12 months.
David Schröder, chief operating officer at Zalando, said: “Zalando creates benefits for both our partners and customers. Our partners gain access to over 48 million active customers and our customers can easily find their favourite local and international brands. To enable strong sustainable growth in the future we will continue to invest in scaling and innovating our unique capabilities and infrastructure.”
