The pandemic may been a disaster for much of Germany’s retail sector, but the exception to this rule is the online market. Zalando is one of the biggest winners, as it reports that it registered twice as many new customers in the month of April as its next best month ever. As of the end of March the company had nearly 32,000,000 active customers which it plans to convert into an increase in sales of between 10 and 20 percent. Board member Rubin Ritter said that its beauty department tripled in sales over the last year, adding that he thought the current pandemic would accelerate the trend toward online shopping. Zalando expects to make a profit of between €100m and €200m for the whole year. This apparently includes plans to invest up to €280 million over the course of the year. Zalando’s share price rose 12.8% on the news.
