staying ahead of the game - zalando · ahead of the game 22- 03- 2 0 1 6 r u b i n r i t t e r . 2...
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C A P I T A L M A R K E T S
D A Y 2 0 1 6
S T A Y I N G
A H E A D O F
T H E G A M E
2 2 - 0 3 - 2 0 1 6
R U B I N R I T T E R
2
W E A R E I N A N E X C I T I N G I N D U S T R Y :
F A S H I O N + O N L I N E + E U R O P E
3
L A R G E
C O N S U M E R M A R K E T
E M O T I O N A L P R O D U C T S
W I T H H I G H E N G A G E M E N T
H I G H
G R O S S M A R G I N S 2
Source: Company f i l ings.
(1 ) Euromonitor International, January 2016, 2015 values based on actuals and est imates; f ixed exchange rates. Data for Europe (excl. Russia) incl . apparel and footwear, bags and
luggage, jewel lery and watches. Al l market f igures inclusive of sales tax. Company information.
(2 ) Segment gross margins based on average of industry players; LTM f igures as per the most recent publ ished company f i l ings.Fashion: Asos, Yoox and Boohoo; Beauty: Jumei; Food
and Drink: Ocado; Books: Amazon; Electronics: Amazon, Dangdang, JD.com.
€46bn online
€420bn total
fashion
market1
Fashion Beauty Food
& Drink
Books Electronics
40-60%
F A S H I O N I S O N E O F T H E M O S T A T T R A C T I V E C O N S U M E R C A T E G O R I E S
“ Z A L A N D O
C O M M E R C I A L ”
4 Source: Euromonitor International, January 2016, 2015 values based on actuals and est imates; f ixed exchange rates. Data for Europe (excl. Russia) incl . apparel and
footwear, bags and luggage, jewel lery and watches. Al l market f igures inclusive of sales tax. Company information.
15%
CAGR 2013 – 2015:
1%
Online
fashion
Total
fashion
37%
O N L I N E A L L O W S U S T O S C A L E F A S T A N D E F F I C I E N T L Y
5
0
25
50
75
100
0 200 400 600 800 1,000 1,200
Fashion spend per capita in €
De
ns
ity o
f fa
sh
ion
sp
en
d in
€1
North America
Australasia Latin America
Eastern Europe
Asia Pacific
Middle
East
Western Europe
Source: Euromonitor International. Data for Eastern Europe excluding Russia.
(1 ) Fashion spend in €’000 per square km.
E U R O P E I S A L A R G E A N D A T T R A C T I V E M A R K E T
W H I C H I S S T R U C T U R A L L Y W E L L S U I T E D F O R O N L I N E F A S H I O N
O V E R T H E L A S T 8 Y E A R S , W E H A V E B U I L T
S U S T A I N A B L E C O M P E T I T I V E A D V A N T A G E
A N D S T R O N G B A R R I E R S T O E N T R Y
7
T R A F F I C ( Q 4 / 1 5 ) 2 0 1 5 R E V E N U E B R A N D A W A R E N E S S
(1 ) LTM revenue as per Dec-2015 for total t raf f ic of Asos as per respective publ ic f i l ing.
Asos: Group / Europe only
Zalando 2015
€3.0bn
€1.7bn
Asos 20151
€1.2bn
~2x
O N L I N E S C A L E : W E A R E T H E L A R G E S T F A S H I O N D E S T I N A T I O N
~450,000,000 visits
~90% brand awareness
“ Z A L A N D O
C O M M E R C I A L ”
8
S T R O N G F A S H I O N F O C U S A N D E X P E R T I S E
T O W A R D S C U S T O M E R S T O W A R D S B R A N D P A R T N E R S
“ C A L V I N K L E I N
C A M P A I G N ”
“ T O P S H O P
C A M P A I G N ”
9
B E S T - I N - C L A S S E C O M M E R C E I N F R A S T R U C T U R E A N D C A P A B I L I T I E S
O P E R A T I O N S T E C H N O L O G Y
10
L O C A L M A R K E T L E A D E R S H I P D R I V E N B Y H I G H D E G R E E O F L O C A L I Z A T I O N
L O C A L A S S O R T M E N T
L O C A L L O G I S T I C S P R O V I D E R S
L O C A L C O N S U M E R F A C I N G F R O N T E N D
L O C A L P A Y M E N T M E T H O D S
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W E A R E T H E P U R E P L A Y O N L I N E F A S H I O N L E A D E R I N E U R O P E W I T H
S U S T A I N A B L E C O M P E T I T I V E A D V A N T A G E
GENERAL
E-COMMERCE
FASHION
E-COMMERCE
VERTICAL
FASHION PLAYERS
EXAMPLES
ONLINE SCALE a
FASHION FOCUS/
EXPERTISE a
BUY-IN FROM BRANDS n/m
E-COMMERCE
INFRASTRUCTURE/
TECHNOLOGY a
LOCALIZATION a
W E D O N O T T A K E T H E F O O T O F F T H E G A S , B U T
C O N T I N U E T O I N V E S T T O G A I N M A R K E T S H A R E
13
W E W I L L C O N T I N U E T O I N V E S T I N O R D E R
T O R E A C H O U R G R O W T H A M B I T I O N
WILLINGNESS TO INVEST
In percent of revenue
8.0-9.5
~2.0
~3.0 3.0-4.5
Pro forma adj. EBIT
margin 2016
INVESTMENTS INTO COMMERCIAL GROWTH OF CORE PLATFORM STRATEGY
• Increasing customer satisfaction around assortment,
mobile, convenience and brand
• Grow beyond wholesale
• New customer-facing speed boats
• Invest in tech and R&D
Adj. EBIT margin
guidance 2016
Commercial
growth
Platform
ILLUSTRATIVE EXAMPLE
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0 0 0
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2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
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2 5 5 2 1 0 1 7 8
C M D
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0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
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C M D
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2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
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2 5 5 2 1 0 1 7 8
C M D
P L A T F O R M : C U S T O M E R F O C U S
[ I N S E R T V I D E O ]
P L A T F O R M : C O N S U M E R F O C U S
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0 0 0
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1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
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2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
P L A T F O R M : B R A N D F O C U S
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2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
T E C H N O L O G Y
C O R E
19
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
O P E R A T I O N S .
C O R E
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2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
Z A L A N D O
F A S H I O N S T O R E
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2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
Z A L A N D O
L O U N G E
22
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
Z A L O N
23
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
Z A L A N D O
M E D I A S O L U T I O N S
24
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
M O V M N T
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2 5 5 6 5 0
0 0 0
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1 1 5 1 2 2 1 3 2
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2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
D I S T R I B U T E D
C O M M E R C E
26
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
O F F L I N E S T O C K
I N T E G R A T I O N
27
2 5 5 6 5 0
0 0 0
2 5 5 2 5 5 2 5 5
1 1 5 1 2 2 1 3 2
2 2 9 2 2 9 2 2 9
2 4 3 2 4 3 2 4 3
1 0 9 1 0 9 1 0 9
2 5 4 1 6 6 1 0 1
2 5 5 2 1 0 1 7 8
C M D
T H E F I N A N C I A L P E R S P E C T I V E .
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Q U E S T I O N S ?
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These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of Zal ando SE (together with its subsidiaries, the
“Company”) in any jurisdiction. The distribution of this presentation may be restricted by law in certain jurisdictions and p ersons into whose possession any
document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such jurisdiction .
This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in
which the Company operates. Forward-looking statements concern future circumstances and results and other statements that are no t historical facts, sometimes
identified by the words “believes”, “expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and similar
expressions. The forward-looking statements contained in this presentation, including assumptions, opinions and views of the Com pany or cited from third party
sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly f rom any anticipated development due to a
number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in Germany, changes affecting interest
rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of l egal proceedings and actions and the
Group’s ability to achieve operational synergies from past or future acquisitions. The Company does not guarantee that the as sumptions underlying the forward-
looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this
presentation or any obligation to update the statements in this presentation to reflect subsequent events. The forward -looking statements in this presentation are
made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of the Company with an y of the recipients thereof shall, under
any circumstances, create any implication that there has been no change in the affairs of the Company since such date. Conseq uently, the Company does not
undertake any obligation to review, update or confirm investors' expectations or estimates or to release publicly any revisio ns to any forward-looking statements to
reflect events that occur or circumstances that arise in relation to the content of the presentation .
This presentation contains summary information only and does not purport to be comprehensive and is not intended to be (and s hould not be used as) the basis of
any analysis or other evaluation. In addition, the information in this presentation is subject to change. No representation o r warranty (express or implied) is made as
to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained h erein, and no liability whatsoever is
accepted as to any errors, omissions or misstatements contained herein.
D I S C L A I M E R
i n v e s t o r . r e l a t i o n s @ z a l a n d o . d e
2 2 - 0 3 - 2 0 1 6
I N V E S T O R R E L A T I O N S