German online shoe retailer Zalando continues to expand its reach and enters three new countries: Portugal, Greece and Bulgaria.
"We are only active in European markets, and there are not many countries where we are not," explained co-CEO Robert Genz during the presentation of Zalando's annual results on March 6. "We still see great potential in Europe. It is a 450 billion euro clothing market, and we can play an even bigger role in it than we do today. Although we never know what the future holds, Europe remains our focus for now."
In CBCommerce's annual ranking of Europe's 500 largest cross-border retailers, Zalando was ranked second last year, behind Ikea but ahead of H&M (3rd), Zara (5th), Decathlon (8th) and Adidas (9th). According to FashionNetwork.com, the portal's largest markets are Germany, Switzerland and France. Zalando is now present in 28 European countries.
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