Zalando wants to quintuple turnover to 20 billion euro

Zalando wants to quintuple turnover to 20 billion euro

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.