Zalando delivers 40% growth in second quarter
Zalando, the online platform for fashion and lifestyle, grew its gross merchandise volume by 40% to €3.8 billion in its second quarter following strong online sales. In addition, the company achieved an adjusted EBIT of €184.1 million and a margin of 6.7%.
In a statement, the company said more than 10 million active customers joined the Zalando platform during the last 12 months to take the total number of active customers to 44.5 million by the end of the quarter. Average orders per active customer also rose and reached a new all-time high of 5.
Zalando is expecting its full year gross merchandise volume to grow between 31% and 36% to around €14 billion to €14.6 billion with revenues climbing by between 26% and 31% to between €10.1 billion and €10.5 billion. It also expects adjusted EBIT to come in at the upper half of the guided range of between €400 million and €475 million.
David Schröder, Zalando chief financial officer, said: “Even more than our outstanding financial performance in the second quarter, the increasing engagement by customers and brands underlines the long-term relevance of the Zalando platform and is a strong proof point of our successful strategy. To serve consumers and partners even better in the future, we are particularly excited about the strategic partnership with Sephora to further elevate our beauty proposition and the expansion of the Zalando platform to six new countries.”
Zalando has recently expanded into Lithuania, Slovakia, Slovenia, Croatia, Estonia and Latvia.
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