Report
Clement Genelot

ZALANDO: Guidance upgrade demonstrates the relevance of model shift towards marketplace | BUY | EUR71 vs. EUR67

ZALANDO - BUY | EUR71 vs. EUR67 (+10%)
Guidance upgrade demonstrates the relevance of model shift towards marketplace

Any Covid impact on FY 2020 EBIT or sales? Not for Zalando
Model shift towards marketplace more relevant than ever
Buy reiterated with a FV of EUR71
Underlying
Zalando SE

Zalando is an e-commerce group based in Germany. Co. is engaged in the online retailing of clothing, shoes and accessories for women, men and children. Co.'s product offering include more than 1,500 brands, including global and local brands, as well as private labels, including shoes, clothing and accessores as well as sportswear and homeware designed especially for the Co. The Co.'s product offering is complimented by the Zalando Lounge and Zalon apps, which provides registered members special offers at discounted prices. Co. also provides a combination of services that include free delivery and returns.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Clement Genelot

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