Home / Knowledge / News / Fashion / Zalando FY19 revenue grows to €6.5 bn

Zalando FY19 revenue grows to €6.5 bn

02
Mar '20
Pic: Zalando
Pic: Zalando
Zalando, Europe's leading online platform for fashion and lifestyle, has posted 23.6 per cent increase in its gross merchandise volume (GMV) to €8.2 billion in full fiscal 2019 compared to €6.6 billion in FY18. Revenue for FY19 that ended on December 31, 2019 grew 20.3 per cent to €6.5 billion compared to €5.4 billion in same period prior year. 
 
"We look back at a very successful year. We achieved strong financial results in every single quarter," Zalando CFO, David Schröder, said in a press release. "While delivering those results, we have made strong progress on our strategic agenda."
 
The company has reported that in 2020, it will make several investments that underline its ambition to become the starting point for fashion. Firstly, the company will expand its premium segment to include luxury brands. In order to gain more market share in the €38 billion market for premium fashion, Zalando plans to double its premium and luxury assortment before year end 2023. The company has recently added Moschino Couture and Alberta Ferretti and will reportedly further expand the category by creating an inspiring and relevant experience for both customers and brand partners.
 
"Especially younger customers like to mix and match high-street fashion brands with sports and designer pieces. Premium has been our fastest-growing category in the past months, and we see a huge potential to build on that," David Schneider, Zalando co-CEO, said.
 
The company will scale its pre-owned fashion pilot and launch "Pre-Owned" as a new category on the Zalando destination. The category launch supports Zalando's ambition to build deep customer relationships by creating even more customer touch points and brings the company closer to the goal to become a sustainable fashion platform, as company reported.
 
In line with its growth strategy for 2023/24, Zalando expects to grow its GMV between 20-25 per cent and it expects revenues to grow between 15-20 per cent in FY20.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Retailers need to show true partnership with supply chains

The ongoing COVID-19 crisis has thrown up an unprecedented challenge...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Brands & Suppliers: Caught in a bind

Brands and retailers are in a bind: they have to deal with store...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Pak garment units exempted from lockdown, start production

Pakistan’s garment industry has started production following a...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Mario Castro,

Mario Castro

Fibraltex is an integral factory dedicated to the production of denim...

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search