Zalando, Europe’s leading online fashion platform for women, men and children, now anticipates to report revenue growth between 20-25 per cent in the second quarter of this fiscal after it reported increase in revenue in the second quarter of this fiscal.
Revenue for online retailer reported 20.9 per cent increase to EUR 1,330.0 million which is around its growth expectation of 20-25 per cent. Adjusted EBIT for the e-retailer stood EUR 94.0 million in the reporting quarter.
The brand reported total 29 million orders, the highest in a single quarter and strong development of customer KPIs. It reported 15.9 per cent increase in active customers to 24.6 million.
“Its extremely satisfactory to note strong development in customer KPIs during the reporting quarter. Despite a continued challenging fashion market environment our customer-centric focus is paying off,” stated Zalando Co-CEO Rubin Ritter.
“We noted strong growth in our Partner Program which accounts for around ten per cent of merchandise volume sold in the second quarter,” added Rubin Ritter.
With the launch of its online Fashion Store in Ireland and the Czech Republic, the brand is now present in 17 European countries.
Additionally, the online retailer also made it more accessible by launching an English language version of Zalando in Germany and an Italian version in Switzerland.
Overall in the first half, the brand reported 21.4 per cent increase in revenue to EUR 2,526.0 million and achieved an adjusted EBIT of EUR 94.4 million.
In view of its strong logistics investments, the brand is hopeful to retain an elevated level for the financial year of 2018 at around EUR 350 million.
