Clothing & ShoesOnline & Digital

Zalando sees revenues rise 20%

Online fashion retailer Zalando has reported a 19.6% increase in revenues to €3.56bn (£3.2bn) in the first half of 2020, compared with €2.98bn (£2.68bn) in the same period last year.

In this period, Zalando reported a 25.1% increase in group GMV to €4.72bn (£4.24bn), compared with €3.77bn (£3.38bn) in 2019.

The online retailer also achieved an adjusted EBIT of €113.3m (£101.7m) at a margin of 3.2% compared with €108.1m (£97m) at 3.6%.

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.”

Following its “strong growth” Zalando said it will continue to take decisive and transformative steps to enable future growth. 

The company said it will also invest in customer relationships, growing its active customer base and driving its platform transition.

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