Corona Crisis Drives the Growth of Online Store Zalando

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Online store Zalando is one of the companies that is clearly benefiting from the corona crisis and the popularity of online shopping.

 

The originally German online clothing store adjusted its expectations for this year upwards after a strong first quarter. In it, Zalando saw the revenues from its goods sold, the gross trade revenues, grow by almost 56 percent to 3.2 billion euros.

Financial director David Schröder emphasizes in an explanation that Zalando achieved the strongest growth ever since the IPO in 2014.

For the full year, Zalando, which previously published preliminary results, now expects 31 to 36 percent growth. That should result in a gross profit of 400 million to 475 million euros.

To manage growth, Zalando will also expand its network of distribution centres in Europe. By 2023, five should be added to the current ten distribution centres that Zalando owns. There must be one of these in Bleiswijk.

In the long term, Zalando wants to control more than 10 percent of the total fashion market in Europe, now worth about 450 billion euros.

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