German e-commerce firm Zalando is upbeat about 2021 and has upped its sales prediction for the year.
And why not! The fashion stalwart has seen an impressive jump of 23.1 per cent in revenue to clock €8 billion for the year ended 30 December 2020.
Besides Zalando’s partner programme, the strong performance was driven by some big customer acquisitions during the pandemic-hit year.
The e-tailer saw its gross merchandise value for the year rise by a good 30.4 per cent to€10.7 billion.
The numbers have now made the fashion e-tailer forecast a revenue jump in the range of 24 per cent to 29 per cent to post €10.3 billion in 2021.
The gross merchandise value for 2021 is also predicted to rise between 27 per cent and 32 per cent to €14.1 billion.
The e-tailer is predicting the gross merchandise value to jump by nearly 50 per cent in the first quarter.
Zalando is also putting efforts to attain these numbers. It plans to invest €350 million to €400 million in 2021 to further enhance the technology and the logistics infrastructure.
There are also reports that Zalando plans to increase its network of connected physical stores on the platform by 3 times in 2021.