Over the next few years, German online retailer Zalando seeks to quintuple its turnover. Based on its current 4 billion euro turnover, it therefore seeks to reach about 20 billion euro.
1 million products
If it reaches its goal, Zalando Europe will own about 5 % of the continent's fashion sales. Currently, the online shop has about 150,000 items in its product range, from more than 1,500 brands. However, its goal is to reach 1 million items.
Zalando CFO Rubin Ritter added the company's growth will be mainly organic, which he feels is a much more efficient strategy than to solely absorb competitors.
The company also has large cash reserves thanks to its IPO two years ago, when it raked in about 1 billion euro, a sum it barely touched since then. Many of its later investments were funded straight from Zalando's cash flow, Ritter said.