Aug 6 (Reuters) - Zalando said on Tuesday it
would open a new tech site in China's tech-hub Shenzhen, but it
was not planning to expand its marketplace to China at this
point in time.
The Chinese tech centre would allow the German online
fashion retailer to tap into local expertise in social commerce
and integrate that with the company's knowledge of the European
e-commerce market, finance chief Sandra Dembeck said on an
investor call following Zalando's second-quarter results.
Zalando said it currently had no plans to expand its
e-commerce platform to China.
The company, which serves around 50 million active customers
in 25 markets across Europe, has recently focused on
higher-priced brands and sportswear as it competes with
low-priced retailers such as Shein, introducing its own sports
collection and launching sports brands such as Lululemon, Hoka,
and On Running in recent quarters.
These premium sportswear brands are seeing robust growth in
China, as health and wellness have become a priority for
aspirational, middle class consumers since the pandemic, with
many people taking up activities such as yoga, hiking and
running for the first time.
"We are still focused on tapping into the growth
opportunities that Europe has to offer and are sure that our
tech site in China will contribute to achieve our goals,"
Zalando said in an email.
Growth in China's once-thriving e-commerce industry has
slowed recently, dragged by a sluggish economy.