German pureplay fashion retailer Zalando expects to see double-digit sales growth in 2020, despite the effects of the coronavirus pandemic.
Despite much of the global fashion market predicting huge downturns in sales due to the crisis, Zalando said it expects to be “clearly profitable” in 2020 with adjusted EBIT of between €100m and €200m. It also pledged to invest between €230m and €280m over the course of the year.
The retailer said it aims to grow its total sales between 10% and 20% this year.
The fast-fashion marketplace said this growth would be driven by an “accelerated consumer shift from offline to online” caused by worldwide bricks-and-mortar store closures.
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