Zalando revenue boosted by improved inventory and new digital experiences
Zalando accelerated growth and improved profitability in its second quarter after it expanded its range of brands and invested in new AI powered experiences.
During the period, the online fashion and beauty retailer grew its gross merchandise volume by 2.8% to €3.8 billion and revenue by 3.4% to €2.6 billion. Growth was particularly strong in the sports, designer and beauty categories.
Meanwhile, adjusted EBIT came in at €171.6 million compared to €144.8 million a year earlier.
Robert Gentz, Zalando co-chief executive, said: “Our ecosystem strategy empowers us to cover a larger share of the fashion and lifestyle ecommerce market, and the positive response from customers and partners in the second quarter validates our vision.
“Our B2C customers are excited by the quality brands we are adding, spending time with our new digital tools and content, and embracing our expanding lifestyle offerings in areas such as sports, designer and beauty.
“We also recorded double-digit growth in B2B, demonstrating that both our growth vectors are delivering.”
Zalando is expecting both gross merchandise volume and revenue to grow by between 0% and 5% this year compared to 2023. As it continues to focus on profitable growth, it is forecasting that adjusted EBIT will be in the range of €380 million and €450 million.
The retailer has also announced that Astrid Arndt has been reappointed as chief people officer for another four-year term, starting on 1 September.
In addition, Sandra Dembeck, its chief financial officer, has decided not to renew her contract beyond her current term.
