Zalando targets more than EUR 30 billion GMV by 2025
DGAP-News: Zalando SE / Key word(s): Annual Results/Annual Report
16.03.2021 / 08:00
Zalando targets more than EUR 30 billion GMV by 2025
Zalando further upgrades long-term growth ambition to more than 10% of European fashion market
Strong financial year 2020 with 30.4% GMV growth, 5.3% adjusted EBIT margin
Guidance 2021: GMV growth of 27-32% at EUR 350-425 million adjusted EBIT
Astrid Arndt appointed to the Management Board as Chief People Officer as of April 1
BERLIN, MARCH 16, 2021 // Following a strong financial year 2020, Zalando significantly upgrades its growth ambitions and aims to grow Gross Merchandise Volume (GMV) to more than EUR 30 billion by 2025. The company further aspires to serve more than 10% of the total EUR 450 billion European fashion market in the long-term.
Zalando Shares Fall After Kinnevik s Plan to Distribute Stake morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Kinnevik’s stake of 54 million shares represents 21% of total shares outstanding in Zalando.
Shares in the German online fashion giant fell 6.2% in Wednesday’s early trade, while Kinnevik dropped 3.0%.
Kinnevik’s shares have surged more than 200% from lows in March, with many of its holdings seeing rapid growth in the midst of the pandemic, helped by the portfolio’s focus on digital businesses.
The proposal to distribute Zalando will be submitted at Kinnevik’s annual shareholder meeting on April 29, and is expected to be finalized during the second quarter.
“The investment in Zalando has been instrumental in establishing Kinnevik as the leading listed European growth investor in tech-enabled businesses,” Kinnevik Chief Executive Georgi Ganev said in a statement.