Wednesday, May 19, 2021
Board is downsized
Zalando continues to pay no dividends
The online fashion retailer Zalando is traded as a Dax group – but the shareholders do not participate in the success in the form of a distribution. Rather, profits should be invested immediately. Meanwhile, as announced, a formative figure is withdrawing.
The shareholders of Europe’s largest online fashion retailer Zalando will have to wait even longer for distributions. “We are not currently planning any dividends or in the coming years. Income will be reinvested,” said board member Rubin Ritter at the annual general meeting of the Berlin group, with whom he said goodbye to Zalando after eleven years. The trio of the board of directors has now become a duo consisting of Robert Gentz and David Schneider, who founded the company in 2008.
Gentz as well as Schneider thanked Ritter, who, with his withdrawal announced in December, would like to give his wife the opportunity to develop a stronger career. “One of the absolute highlights was the IPO. That was your work,” said Schneider with a view to the debut in 2014. Gentz assured that Ritter was leaving the group, which has since been traded as a DAX candidate, in “excellent condition”.
Zalando now has more than 38 million customers and last year it achieved a gross merchandise volume of more than ten billion euros. As he said goodbye, Ritter said: “Our friendship has grown stronger during this intense period and that is not a matter of course. Ritter thanked the chairwoman of the supervisory board, Cristina Stenbeck, “also for the many used children’s clothing, entirely in line with sustainability”.
Recently there had been speculations that Zalando had an eye on the online cosmetics subsidiary Flaconi of the TV group ProSiebenSat.1. Gentz did not comment on this and merely said that complementary or transforming acquisitions are being looked for.
.