Zalando posts double-digit revenue growth
Written by Anthony Strzalek
Online fashion retailer Zalando has seen revenues rise almost a quarter in H1 2017, as the firm looks to further expand its European fulfilment network.
Zalando’s half-year revenues increased 21.5 per cent to €2.08 billion. For the full year, the Berlin-based retailer expects revenue growth in the upper half of its guided range of 20-25 per cent.
As part of its continued growth initiatives, Zalando plans to expand its European fulfillment network with two large centres in Poland and Italy. The firm already operates sites of a similar size in Erfurt, Mönchengladbach and Lahr (Germany), and is preparing to launch initial operations in Gryfino (Poland) in the third quarter of 2017.
Zalando co-CEO, Rubin Ritter, said: “We firmly believe that growth is the right strategy to increase the value of our business. Our updated guidance reflects our focus on growth at solid profitability levels.
“It is in our DNA to continuously evaluate additional investment opportunities, test ideas, and then start scaling them.”