The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BERLIN, Germany — Online fashion retailer Zalando said it expected sales growth to slow to 15 to 20 percent in 2020 after it reported a strong final quarter to 2019, boosted by a strong performance in the "cyber" week around the Black Friday discount day.
Fourth-quarter sales rose 19.5 percent to €2 billion ($2.1 billion), while adjusted earnings before interest and taxation came in at €110.4 million, both ahead of average analyst forecasts.
While it expects sales growth to come in at 15 to 20 percent in 2020, it said it expected gross merchandise volume — sales made on its website by itself or its partners — to rise 20 to 25 percent as it becomes more of a platform for brands rather than buying and selling stock itself.
By Emma Thomasson; editor: Riham Alkousaa.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.