Zalando at a glance
Zalando SE is a Berlin-based online fashion and lifestyle company founded in 2008 by Robert Gentz and David Schneider, who still lead it as Co-CEOs. Its shares trade in Frankfurt under the ticker ZAL, and it has been a DAX member since 2021.
How the business works
The B2C segment runs three apps: Zalando, ABOUT YOU and Lounge by Zalando. It earns money from wholesale sales, commissions from brands in its partner programme and retail media advertising. The B2B segment sells ZEOS fulfilment services and SCAYLE commerce software to brands and retailers, including Marks & Spencer, NEXT and Levi's.
The ABOUT YOU deal
Zalando closed its acquisition of ABOUT YOU on 11 July 2025. The deal added a second fashion app and SCAYLE. Zalando expects ~$113 million (€100 million) in run-rate synergies in 2028.
Financial results
In fiscal year 2025, group GMV rose 14.7% to ~$19.9 billion (€17.6 billion), revenue rose 16.8% to ~$13.9 billion (€12.3 billion) and adjusted EBIT reached ~$668 million (€591 million). Zalando also announced a share buy-back of up to $339 million (€300 million). In Q2 2026, revenue was ~$3.86 billion (€3.42 billion), adjusted EBIT rose 10% to ~$232 million (€205 million) and active customers reached 62.5 million. Management expects 2026 growth in the lower half of 12–17% and adjusted EBIT of €680-720 million.
Challenges
Organic growth after the acquisition is in the mid-single digits. Competition from Amazon and low-price platforms is intense, and returns remain costly. Q3 2026 results are due on 3 November 2026.
