Zalando warehouse in Brieselang
Zalando warehouse in Brieselang
 

02 Oct. 2012

ZALANDO RECEIVES LONG-TERM DEBT FINANCING OF €40.7 MILLION

Successful talks with Commerzbank, Sparkasse Mittelthüringen and the KfW bank group have led to long-term agreements with Zalando GmbH, providing debt financing in the amount of €40.7 million. The online retailer will use the funds for the expansion of its own infrastructure and the financing of operational business.

With the resources, the European online store for fashion will part finance the interior work of his first logistics center in Erfurt. Plans for the 78,000 m² hall were laid down in December last year and the works will be completed in summer 2013.

Jan Kemper, Chief Financial Officer at Zalando, expressed his confidence: “The trust that we received by the banks show, that we are on the right track regarding the sustainable built-up of our company. By the combination of investment funds by our associates and the borrowed capital, we are financed in a solid and well-balanced way.”

Michael Schmid, Executive Vice President and Special Representative of the Executive Board at Commerzbank said: “Zalando is becoming one of the most successful e-commerce enterprises in Europe and we are happy to support that.”

Alongside the plans for the ultra-modern logistics center in Erfurt, Zalando also recently announced its plans to build a homegrown logistics center in Mönchengladbach, intended to strengthen its European sales activities.

Alice McCullagh

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