Zalando SE, Europe’s leading online platform for fashion and lifestyle, posted 46.8 per cent revenue growth to €2.2 billion in its first quarter (Q1) FY21 ended on March 31, 2021 compared to the revenue of €1.5 billion in the same period previous fiscal. The company’s gross merchandise value (GMV) jumped 55.6 per cent to €3.1 billion (Q1 FY20: €2.0 billion).
“In the first quarter of 2021, Zalando delivered the strongest growth ever since going public in 2014. We see our platform business unfolding at increasing speed, creating benefits for customers and partners alike and allowing us to make fast strides on our journey towards being the Starting Point for Fashion,” David Schröder, chief financial officer at Zalando, said in a press release.
The company’s gross profit for Q1 FY21 increased to €3.8 billion (€2.9 billion), while operating result rose to €265.1 million (€107.9 million). The company's net income grew to €170.0 million (€35.9 million).
Fashion Store revenue rose to €2.0 billion (€1.4 billion). Whereas, DACH regions sales were up €921.0 million, while Rest of the world sales were €1.0 billion (€728.0 million) during the reported period.
According to the company, to enable its future growth ambitions and serve customers with best-in-class convenience, Zalando will continue to expand its European logistics network of currently 10 fulfilment centres and add five fulfilment centres to the existing network by 2023. Two centres in Rotterdam and Madrid are close to completion and will go live in 2021. Construction works on three new fulfilment centres in France, Germany, and Poland will kick off in the next twelve months.
Fibre2Fashion News Desk (JL)
Zalando SE, Europe's leading online platform for fashion and lifestyle, posted 46.8 per cent revenue growth to €2.2 billion in its first quarter (Q1) FY21 ended on March 31, 2021 compared to the revenue of €1.5 billion in the same period previous fiscal. The company's gross merchandise value (GMV) jumped 55.6 per cent to €3.1 billion (Q1 FY20: €2.0 billion).