A confident Zalando said today that it expects to outperform the fashion retail market in the year ahead after revenues jumped 23% to €3.64bn (£3.1bn) in 2016.
The Berlin-based international etailer’s adjusted EBIT margin increased to 5.9% during the year, which corresponded to an adjusted EBIT of €216.3m (£184.3m), up from €107.5m (£91.6m) in 2015.
It attributed this to improved operating costs, strong cost management and better efficiency generally.
Zalando expects to grow revenues in the range of 20%-25% in 2017, and an adjusted EBIT margin in the range of 5%-6%. It will create more than 2,000 new jobs this year.
“Strong growth requires nonstop investment. We are proud to have significantly progressed in expanding our business profitably,” said co-chief executive Rubin Ritter.
“As we build the technology and operating system to transform the European fashion industry, we will further invest into a unique and flawless consumer experience and a stronger supplier proposition to continue to drive growth ahead of the market.”