- Move follows investor concern over Amazon’s move into fashion
- Own-labels boss Jan Wilmking predicted label would grow at similar pace to rest of Zalando
- The etailer continues to grow at around 25% every year
German etailer Zalando is planning to set up its own-label unit as a standalone business in a bid to access untapped markets and sell on rival websites.
However, own-labels boss Jan Wilmking predicts that the own-label business will grow at a similar pace to the rest of Zalando, equating to between 20% and 25% every year.
“We see great potential. We want to strengthen the brands outside of Zalando,” he told Reuters.
Zalando’s recent first half results saw its sales soar 25%. It also increased full-year profit guidance to between 4% and 5.5%.
At the time, board member Rubin Ritter said that Britain remained “a very attractive potential market”, despite its vote to leave the EU.
Zalando operates in 15 European markets at present – including the UK – and carries more than 1,500 brands including own-label.