BERLIN, June 4 (Xinhua) -- Germany's biggest online fashion retailer Zalando is expanding to Ireland and the Czech Republic, the company announced on Monday.
Zalando highlighted that the step marked the first new foreign market entries for the company since 2013.
Based in Berlin, Zalando has grown into Europe's largest online fashion retailer with a combined 24 million customers in major markets like Germany, Britain, Spain and France, selling around 2,000 available brands.
A key component in Zalando's business model is that it offers customers a 100-day return policy for unwanted goods and its payment after delivery service. Both of these policies create a significant financial burden for the online retailer, with around 50 percent of items being returned.
Zalando recently signed an agreement with Swedish fashion giant Hennes & Mauritz (H&M) to include the brand "Monki" in its portfolio and regularly opens new distribution and logistics centers throughout Europe.
Zalando expressed hope on Monday that it could reach up to 15 million new customers by adding Ireland and the Czech Republic to its rapidly-growing list of business locations. Additionally, the company has announced the offer of English and Italian-language versions of its existing German and Swiss online shops in a bid to reach more shoppers.
