Rocket Internet’s flagship fashion retailer Zalando today officially announced its expansion into Belgium, with a suite of other European countries set to follow.
Zalando is now active in nine European countries and has indicated several others will be coming soon, including Luxembourg and Slovakia. A quick search for job listings shows Zalandor is currently recruiting for positions to manage operations in Denmark, Norway, Finland, Poland, Spain and Turkey.
How quickly will expansion convert into profits?
Last year, Zalando posted an operating loss despite €200m of sales in the first six months, citing “strong growth and geographical expansion”. This isn’t scaring off its backers: existing shareholders Kinnevik (Sweden) and DST Global (Russia) recently increased their stake in the company by five per cent each.
Zalando’s other shareholders, in addition to management and Rocket Internet, include Holtzbrinck Ventures and Tengelmann Ventures (both based in Germany).
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