Zalando's impact on the European economy

Business

Zalando office in Berlin Credits: Kirsten Bucher / Zalando

A new report has looked back at online fashion retailer Zalando's impact on the European economy and performance it had achieved during the year 2023.

Titled 'The Economic Impact of Zalando in Europe', the report, conducted by international research and consulting firm Oxford Economics for Zalando, assessed the company’s direct and indirect economic impact on the continent based on data from 2023.

That year, Zalando supported a total gross value added (GVA) of 9.521 billion euros in Europe. Almost 60 percent of this was due to the company's supply chain.

The report also highlighted Zalando's role in supporting local brands and economies. More than 97 percent of the company's purchases come from Europe, with Germany, the Netherlands and Italy being the main beneficiaries.

The report further revealed that in 2023, Zalando supported 113,000 jobs across the continent. In Germany, its home market, the company contributed 4.81 billion euros to GDP and supported 53,000 jobs. 15,000 of these were direct Zalando employees. In addition, 27,000 jobs were supported by Zalando through its supply chain with German suppliers.

Founded in 2008, Zalando has, 16 years later, more than 50 million customers and has reached a turnover of 10.1 billion euros. The platform, initially an online shoe retailer, now offers fashion items for men, women and children.

This article originally appeared on FashionUnited.FR. It was translated to English using an AI tool called Genesis and edited by Rachel Douglass..

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