Zalando plans hiring spree to expand online fashion platform
Reuters
Published Mar 05, 2015 07:15
Zalando plans hiring spree to expand online fashion platform
BERLIN (Reuters) - Europe's largest dedicated online fashion retailer Zalando (DE:ZALG) said on Thursday it plans to hire new employees on a large scale as it expands its fashion platform to support a target of 20-25 percent growth in 2015.
Zalando, which listed in Frankfurt last year, rushed out preliminary 2014 results last month after they beat analyst expectations, reporting its first annual group profit: adjusted earnings before interest and tax (EBIT) came in at 82 million euros ($90.52 million).
On Thursday, Zalando confirmed a target for 2015 sales to increase by 20 to 25 percent and said it expects its EBIT margin to be broadly around the 2014 level of 9 percent as it invests in technology to fuel future growth.
It expects to hire many new employees to support projects like a new curated shopping service and a broadening of its range, for example in booming women's sportswear.
($1 = 0.9059 euros)
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Written By: Reuters
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