- 4 November 2020
- Transport / Logistics Services
Revenues at European fashion and lifestyle platform Zalando SE grew by 21.6% to €1.8 billion in the third quarter of the year. Operating profit hit €118.2 million.
The pandemic and lockdowns across Europe drove growth as shoppers increasingly went online to do their shopping. The Zalando Partner Programme and Zalando Lounge performed strongly in the period, helping drive growth across the board. The online platform also drove efficiencies into its fulfilment system, increasing profitability.
David Schröder, Chief Financial Officer, says: “As the second coronavirus wave is starting more forcefully than anticipated, we are much better prepared than earlier in the year. Our Starting Point for Fashion strategy continues to enable us to turn the accelerated consumer demand shift towards digital offerings into business opportunities for Zalando and its partners. We will continue to invest to drive strong growth beyond 2020 following our key strategic priorities: growing our active customer base, deepening customer relationships and driving our platform transition.”