Zalando’s position as one of the biggest fashion e-tailers across all price levels has been cemented by news that it will join the DAX (Deutsche Aktienindex) index on September 20.
Its share are currently listed on the MDAX index and have been since 2015. And while not quite at the all-time peak they reached in late June, they’ve been on a generally upward trajectory in the last six years. They now qualify for a place on the DAX, which is an elite grouping of the 30 major German blue-chip companies trading on the wider Frankfurt Stock Exchange.
Company co-founder and co-CEO Robert Gentz said of this: “We are proud to see what the Zalando team has built over the past decade. Growing a start-up selling flip flops out of a basement into a pan-European platform that serves around 45 million customers. Yet the larger opportunity still lies ahead of us.”
Founded in 2008 in Berlin, Zalando has consistently grown since it first became a list company in 2014 and today it deals with 4,500+ brands and partners.
Its ambition is to reach Gross Merchandise Volume (GMV) of €30 billion+ by 2025 and to grab a more-than-10% share of the total €450 billion European fashion market longer term. Its current share price means it has a market capitalisation of almost €25 billion, around five times what it was when it first listed.
While known earlier for its mass-market fashion, the company has been moving into higher price brackets of late and only last month announced that it was ramping up its established and emerging designer offer.
Copyright © 2021 Hermesbelts.co.uk All rights reserved.