Europe’s leading online platform for fashion and lifestyle has achieved exceptional profitable growth in the third quarter of 2020.
Gross Merchandise Volume (GMV) and revenue grew by 29.9 per cent and 21.6 per cent to €2.5bnand €1.8bn, respectively. The strong growth was, in particular, driven by the accelerated consumer demand shift towards digital offerings in the course of the ongoing coronavirus pandemic, as well as the strong performance of Zalando’s Partner Program and Zalando Lounge.
David Schröder, Chief Financial Officer, says: “As the second coronavirus wave is starting more forcefully than anticipated, we are much better prepared than earlier in the year. Our Starting Point for Fashion strategy continues to enable us to turn the accelerated consumer demand shift towards digital offerings into business opportunities for Zalando and its partners. We will continue to invest to drive strong growth beyond 2020 following our key strategic priorities: growing our active customer base, deepening customer relationships and driving our platform transition.”
As a result of its strong financial performance, Zalando raised its outlook for the 2020 financial year on October 8, 2020. The company now expects gross merchandise volume (GMV) to grow 25-27 per cent, revenues to grow 20-22 per cent and an adjusted EBIT of €375-425M.
