Zalando outlines coronavirus crisis measures
Online fashion retailer Zalando has given an update on the steps it is taking to protect both its business and staff throughout the coronavirus crisis.
While many of its staff have been told to work from home, the retailer has introduced a range of protective and hygienic measures for those who are unable to do so. It is also enforcing social distancing rules. In addition, it has asked all employees belonging to risk groups to stay at home while they continue to receive their salary.
Zalando said the lockdown policies adopted by various European governments has impacted sales. As a result, the company has adjusted its spending, investment and financial strategy for the current year.
Established in 2008, Zalando has 31 million active customers across 17 markets and has developed partnerships with more than 2,500 fashion brands. The company has taken the decison to waive commission fees until 31 May for all new and existing physical stores that sell their goods on its platform. It has also earmarked €100 million for early payments to partners for goods and services they have already provided.
In a statement, the company’s management team (pictured) said: “While we expect that the current crisis will have a negative impact in the foreseeable future, we do not expect it to change our longer term trajectory. We will continue to focus on our strategic priorities: to build even deeper customer relationships and to grow our platform business model. Wherever possible, we are prepared to invest through-cycle and drive long-term value creation even in this adverse environment.”
