Despite a “challenging trading environment”, Zalando has recorded a strong uplift in profits and gross merchandise volume in its first half.
From January to June, Zalando’s saw an adjusted EBIT of €113.3m (£102.m) with a margin of 3.2%. This was a 4.8% jump year on year.
Gross merchandise volume (GMV) also grew by 25.1% to €4.72bn (£4.25bn) and revenue increased by 19.6% to €3.56bn (£3.20bn).
The German marketplace grew its customer base by 20.4% year on year to 34 million active users across Europe during the six-month period and added 180 new brands to its partner programme in the second quarter alone.
Zalando saw particular success in the second quarter as shoppers turned online amid the coronavirus pandemic with GMV growth of 33%.
Zalando said its focus for the second half will be to continue growing its customer numbers and accelerating its partner programme.
Chief financial officer David Schröder said: “In the past months we have proven the strength and agility of Zalando in many ways, no matter how challenging the environment. We have come out of the first wave of this pandemic stronger than we went into it as a result of our strategic clarity, our strong partnerships and an extraordinary team effort.
“Many of our partners have intensified their business on our platform in the last months and we have managed to successfully grow together.”
Zalando was one of three European platforms to remove Boohoo and its subsidiaries from its website following the modern slavery allegations earlier this year, as previously revealed by Retail Week.
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