Zalando has reported another big jump in its revenues to €437 million for the second quarter ended June 30, up from the level of €257 million that it had reached in the corresponding period of 2012. The company's entry into four new markets in the second half of last year – Poland, Denmark, Finland and Norway - contributed to the growth.
In the first six months of this year, Zalando raised its sales by 72 percent to €809 million, and the company is expected to end the year 2013 with a turnover of more than €2 billion, compared with €1.15 billion last year. According to Der Spiegel, the big German online retailer should be able to reach the breakeven point this year and start writing black figures for its bottom line as of 2014.
Meanwhile, David Schneider, co-founder of Zalando, has told the Neue Zürcher Zeitung that a stock market listing of the five-year-old German online retailer cannot be excluded in the medium term, but stressed that the company is intent for the moment on consolidating its operations. Experts give it a valuation of around €3.6 billion at the moment.
The report follows the completion of another round of financing in which Putnam has bought a stake of 2 percent in Zalando through 23 of its affiliated funds. The American investor is estimated to have paid out €72 million. Putnam is joining a Canadian pension fund, OTPP, that has taken a similar shareholding in the course of the same equity increase, as previously reported.