Zalando revenue rises 24% to €3bn as active customers reach record 62 million

Zalando posts 24% revenue growth as AI and acquisition gains traction

Zalando's first-quarter revenue climbed 23.8% year on year to €3 billion, with gross merchandise value rising 21.7% to €4.3 billion in the three months to 31 March. The European fashion retailer also lifted adjusted EBIT 38.7% to €65 million, expanding its profit margin from 1.9% to 2.2%.

The company maintained full-year guidance despite what it called a "volatile geopolitical situation and subdued macroeconomic environment." Zalando expects 12% to 17% GMV and revenue growth, with adjusted EBIT between €660 million and €740 million.

Customer growth and spending power

Active customers reached a record 62.3 million, up 10 million year on year. The company's multi-app strategy - spanning its core platform, About You, and Lounge by Zalando - drove this expansion.

Average spend per customer increased 2.9% to €305. Higher basket sizes accounted for much of this gain.

Where the profit came from

About You, acquired last year, contributed €10 million in synergies. Chief financial officer Anna Dimitrova said synergies were running ahead of plan.

The B2B division delivered revenue growth of 23.6% to €297 million, with adjusted EBIT reaching €26 million. Zalando expanded its logistics and software offerings to partner brands.

AI as a sales lever

Zalando expanded its digital assistant into a "lifestyle companion" and rolled out generative AI tools to accelerate product onboarding. The company also increased robotics deployment across its fulfillment network.

Co-chief executive Robert Gentz said the results reflected progress in scaling AI capabilities, framing the group's "unique data and infrastructure" as a competitive advantage.

Zalando reports second-quarter results on 4 August.