29.07.2021 - Companies, Product design, Technology

Zalando starts operating in Latvia

The European fashion and lifestyle online platform "Zalando" starts operating in Latvia. The company claims that entering the Latvian market means growth opportunities for local brands. Latvian brands can also apply for the Zalando Partner Program and start selling their products to 42 million active customers in 23 European countries. The platform is available for 1400 brands and has 300 thousand products.

“We are happy and excited to greet customers in Latvia and open the door to the "Zalando" universe. Our goal is to offer customers in Latvia the most exciting selection of models, combining the most comfortable shopping experience on the market. We are aiming to be the starting point for fashion, ”says Sarah Guerrier, Zalando's Deputy General Manager for Central and Eastern Europe.

Today, Zalando also enters the Croatian and Estonian markets. In 2022, it will expand operations in the Hungarian and Romanian markets.

In 2020, the company's revenue increased by 23.1%, reaching eight billion euros. The gross value of goods reached 10.7 billion euros. In the long run, the company plans to gain more than 10% of the total 450 billion euros European fashion market. In 2020, Zalando's active customer base increased by 25% to 38.7 million. 

“2020 has been the year like no other so far. We have focused on our long-term vision to be the starting point for fashion choices. In the coming years, our focus will continue to be on long-term growth and investment, ”says Robert Gentz, Zalando's co-CEO.

Zalando was founded in 2008 in Berlin. The platform sells clothes, shoes, accessories and beauty products. "Zalando" is one of the German so-called unicorns - technology companies with a value of more than $ 1 billion as a result of the investment. The company reached this point in 2013. In 2014, the company was listed on a stock exchange and then valued at $ 6.8 billion.

The company currently has more than 42 million active customers in 23 markets. The company employs 14.5 thousand people. The company calls itself a state-of-the-art technology company in Europe, working to find digital solutions for every aspect of fashion.

Source: labsoflatvia.com
 

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