Zalando, Europe’s leading online fashion platform, is making investments in the premium segment with an aim to triple the GMV of the premium and luxury segment by 2023. With luxury fashion brands like Moschino Couture, Alberta Ferretti, and Proenza Schouler White Label, Zalando will double its assortment of premium and luxury fashion items in the period.
With the new initiative, Zalando makes a strong move into the €38 billion premium market, which represents nine per cent of the European fashion market.Zalando, Europe's leading online fashion platform, is making investments in the premium segment with an aim to triple the GMV of the premium and luxury segment by 2023. With luxury fashion brands like Moschino Couture, Alberta Ferretti, and Proenza Schouler White Label, Zalando will double its assortment of premium and luxury fashion items in the period.#
Lena-Sophie Röper, buying director Premium and Luxury, said: “Premium is one of the fastest-growing business entities within Zalando. By expanding into a high-end premium profile, we make further progress on our mission to become the Starting Point For Fashion, and leverage the potential of the European premium online market.”
According to industry studies, the online share of premium and luxury fashion goods in Europe is projected to grow. Within Zalando, the premium category, including Wholesale and the Partner Programme, grew by 35 per cent from 2018 to 2019, and Zalando expects the category to continue to grow above average. Over the next four years, Zalando wants to roughly triple its Premium and Luxury GMV with an annual growth rate of about 30 per cent. The strong demand is especially driven by younger customers, who tend to shop high-to-low outfit mixes with luxury items.
“Zalando has the largest customer base of GenZ and millennials in Europe. These groups are predicted to make 55 per cent of all luxury purchases by 2025. This is very interesting for brand partners, as they can access new customers through the designer destination within Zalando,” says Lena-Sophie Röper.
As of today, Zalando’s premium assortment consists of over 260 brands including names like Victoria Victoria Beckham, Vivienne Westwood, and MM6. Individual brand stores allow brand partners to individually adapt their presentation in the Zalando Fashion Store. Zalando will further expand the category by creating an inspiring and relevant experience for both customers and brands. Zalando plans to improve the customer experience on site and with a new unpacking experience.
Fibre2Fashion News Desk (SV)
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