European online fashion marketplace Zalando SE reported revenue of approximately US $ 3.50 billion in the third quarter of 2025, reflecting a year-on-year increase of 26.5% and slightly ahead of analysts’ expectations.
Gross merchandise volume (GMV) for the period reached about US $ 4.90 billion, up 21.6% compared with the same quarter last year. On a pro-forma basis (adjusting for the About You GmbH acquisition), GMV growth stood at 6.7%.
Adjusted earnings before interest and taxes (EBIT) amounted to US $ 112 million, up from US $ 107 million a year earlier — though this was marginally below market forecasts.
Zalando’s management pointed to a strategic pivot towards higher-priced brands and the booming sportswear segment as instrumental in driving performance. The company also entered into a five-year partnership with the German national football federation (DFB) to boost its visibility ahead of the next major international tournament.
Despite the upbeat headline figures, the group cautioned that growth momentum is tempered by macro-economic headwinds and intense competition from fast-fashion rivals. Investors will be closely watching whether Zalando can sustain margin improvements and execute on its logistics-and-services platform strategy.
