German online fashion retailer Zalando, has grown its third quarter revenue by 27.5 - 29.5% to €1.064 - €1.081 billion according to initial figures. The company now expects to achieve an adjusted EBIT of €-5 to €5 million.
In the first nine months of 2017, Zalando’s revenues climbed by 23.5% to 24.1% to €3.145 - €3.162 billion. Adjusted EBIT for the first nine months is expected to come in at €97 - 107 million with a margin of 3.1% to 3.4%.
Zalando co-chief executive Rubin Ritter said: “We continue to push forward with our growth strategy at full speed, winning market share. Our results for the third quarter underline once again that our strong business expansion is driven by ongoing investments into our technology and logistics infrastructure, brand partner proposition and consumer experience. The expansion into the beauty market is a natural next step and reflects the demand of our customers.”
The company will also enter the beauty market in spring 2018 as it looks to become a one-stop-shop for fashion and lifestyle products.
