German e-comm company Zalando's FY20 revenue grows 23% to €7.9 bn

Zalando SE, Europe’s leading online platform for fashion and lifestyle, posted 23.1 per cent revenue growth to €7.9 billion in its fiscal 2020 ended on December 31, 2020 compared to the revenue of €6.5 billion in the previous fiscal. During the year, company’s gross merchandise value (GMV) jumped 30.4 per cent to €10.7 billion (FY19: €8.2 billion).

 

“2020 has been a year like no other. We have kept our eyes on our long-term vision to be the starting point for fashion,” Robert Gentz, co-CEO of Zalando, said in a press release.

 

“The growth of connected retail underlines the value that the combination of offline and online can unlock for retailers,” co-CEO David Schneider of Zalando said.

 

Gross profit for FY20 increased to €3.8 billion (€2.9 billion), while operating result rose to €265.1 million (€107.9 million). Company's net income for the year grew to €170.0 million (€35.9 million).

 

Geographically, company’s sales in Dach region comprising Germany, Austria and Switzerland was up 24.9 per cent to €3.7 billion (€2.9 billion). Whereas sales in rest of Europe grew 22.9 per cent to €4.2 billion (€3.5 billion).

 

“The industry has faced a lot of challenges in the past year, and we have seen partners engaging with Zalando more deeply than ever. We remain committed to be part of the solution and support our partners that are looking for ways to shift their business online,” Schneider said in the release.