Europe’s largest online fashion retailer to expand

Friday, 6 March 2015 00:00 - - {{hitsCtrl.values.hits}}

A Zalando logo is printed on a wall in a showroom of the fashion retailer Zalando in Berlin – REUTERS Reuters: Europe’s largest dedicated online fashion retailer Zalando said on Thursday it plans to hire new employees on a large scale as it expands its fashion platform to support a target of 20-25 percent growth in 2015. Zalando, which listed in Frankfurt last year, rushed out preliminary 2014 results last month after they beat analyst expectations, reporting its first annual group profit: adjusted earnings before interest and tax (EBIT) came in at 82 million euros ($90.52 million). On Thursday, Zalando confirmed a target for 2015 sales to increase by 20 to 25% and said it expects its EBIT margin to be broadly around the 2014 level of 9% as it invests in technology to fuel future growth. It expects to hire many new employees to support projects like a new curated shopping service and a broadening of its range, for example in booming women’s sportswear. ($1 = 0.9059 euros)