German e-commerce company Zalando has announced a 29.7 per cent hike in revenue growth to €10.4 billion last year.

In 2020, the Berlin-based online shopping platform reported revenue growth of 23 per cent to €8 billion in 2020.

The multinational business announced pre-tax profits of €468 million in 2021, corresponding to a 4.5 per cent margin.

Gross Merchandise Value (GMV) growth was up 34 per cent to €14.3 billion, which the company said was driven by continued “strong consumer demand for online offerings and increasing partner adoption of platform services”.

“Zalando creates benefits for both our partners and customers,” said David Schröder, chief operating officer, Zalando. “Our partners gain access to over 48 million active customers and our customers can easily find their favourite local and international brands.

“To enable strong sustainable growth in the future we will continue to invest in scaling and innovating our unique capabilities and infrastructure.”

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