Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Zalando, European fashion and lifestyle retailer, has announced that its customer base grew 6% more than 51 million last year because of the success of its loyalty programme.
According to its financial results for FY22, Zalando’s loyalty programme, Plus, more than doubled its membership to over two million compared with a year ago.
The key financial figures all came within the ranges of the updated company guidance despite what it described as a “challenging economic backdrop”.
GMV grew 3% to €14.8bn (£13.1bn) in 2022 with revenue stable at €10.3bn (£9.14bn) compared with a year ago. Adjusted earnings before interest and taxes (adjusted EBIT) was €184.6m (£163.8m).
As such Zalando said GMV is expected to grow between 1% and 7% this year, however, revenue is expected to develop in the range of -1% to 4% compared with last year.
It also expects adjusted EBIT to be between €280m (£248.5m) and €350m (£310.6m) in 2023 and expects to approach the higher end of its 3-6% adjusted EBIT margin goal by 2025.
Robert Gentz, co-CEO at Zalando, said: “The fact that we were able to continue to grow our customer base in the current economic environment shows that our core strategy is working.
“We want our customers to love Zalando and that’s why we are deepening our relationships with them. Understanding their needs and likes is crucial. Then they’ll keep coming back to us and stay longer with us.”
David Schneider, co-CEO at Zalando, added: “There’s a lot of growth potential within our existing customer base. On top of that, we see further opportunity in increasing penetration across our markets, where huge potential lies ahead of us.”
