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Zalando Posts First Decline in Sales Since Founding

21 March 2022, Berlin: The logo of the online retailer Zalando on a company building. (dpa)
21 March 2022, Berlin: The logo of the online retailer Zalando on a company building. (dpa)
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Zalando Posts First Decline in Sales Since Founding

21 March 2022, Berlin: The logo of the online retailer Zalando on a company building. (dpa)
21 March 2022, Berlin: The logo of the online retailer Zalando on a company building. (dpa)

Zalando posted a decline in sales for the first time since the German online fashion retailer was founded, leading it to dim its outlook for 2022 on Thursday.

First-quarter sales fell by 1.5%, to 2.2 billion euros ($2.33 billion), after posting a 46.8% increase in the same quarter last year thanks to the coronavirus pandemic.

"The main issue is that people just aren't into buying fashion," said co-Chief Executive Officer Robert Gentz with a view to high inflation and the war in Ukraine.

For the three months from January to March, the company reported an adjusted operating loss of almost 52 million euros, compared with a year-earlier profit of 93 million euros.

Zalando now sees 2022 sales growth coming in at the lower end of the forecast range of 12% to 19%, and adjusted earnings before interest and taxes would at the lower end of the expected range of 430 million to 510 million euros.

"We believe in the strength of our business model and are taking further actions to improve our results," said Gentz, who added that he expects significant acceleration of business in the second half of the year.

Zalando, along with Asos and Boohoo, was one of the winners of the coronavirus crisis as people had to go online to purchase clothes and cosmetics due to shop closures.

As pandemic restrictions have eased, people are returning to in-store shopping, which is why Zalando was only able to increase its number of customers slightly compared to the previous quarter, to 48.8 million.

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Armani Couture Channels Black as Maestro Misses Paris Bow for 1st Time, Days from 91st Birthday

A model wears a hat during a presentation of creations for Giorgio Armani Privé during the Women's Haute-Couture Fall/Winter 2025-26 collection show at Palazzo Armani in Paris, on July 8, 2025. (AFP)
A model wears a hat during a presentation of creations for Giorgio Armani Privé during the Women's Haute-Couture Fall/Winter 2025-26 collection show at Palazzo Armani in Paris, on July 8, 2025. (AFP)
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Armani Couture Channels Black as Maestro Misses Paris Bow for 1st Time, Days from 91st Birthday

A model wears a hat during a presentation of creations for Giorgio Armani Privé during the Women's Haute-Couture Fall/Winter 2025-26 collection show at Palazzo Armani in Paris, on July 8, 2025. (AFP)
A model wears a hat during a presentation of creations for Giorgio Armani Privé during the Women's Haute-Couture Fall/Winter 2025-26 collection show at Palazzo Armani in Paris, on July 8, 2025. (AFP)

Armani Privé opened Tuesday under an unmistakable shadow. For the first time in the 20-year history of his couture house, Giorgio Armani was not present in Paris to take his bow.

Days from his 91st birthday and following doctors’ advice after a recent hospital stay, Armani reportedly oversaw the Paris couture week show remotely from home, a moment of absence that lands heavily for a designer who has shaped every one of his brand’s collections since its founding.

The show’s theme, “Seductive Black,” played out with literal and symbolic force on the runway: black in myriad forms, from liquid velvet and lacquered silk to pavé crystals and flashes of gold. Even the models’ makeup followed suit, rendered in shades of gray.

For some in the front row, the relentless palette felt pointed. Guests quietly wondered if the choice of black was a coded message from the maestro himself.

This is not the first major show Armani has missed this season. Just weeks ago, he was forced to sit out Milan Fashion Week for the first time in the label’s history, following a brief hospitalization.

According to the brand, the absence was a precaution to save energy for his Paris couture appearance.

For decades, Armani — often referred to as “Re Giorgio,” or King George, in Italy — has been both the creative and business force behind one of fashion’s last great independent empires.

The Tuesday collection balanced tension and control. After an uncertain start, including velvet jodhpurs and stark crystalline seams, Armani’s familiar codes quickly emerged: tuxedo jackets transformed into evening gowns with plunging lapels and floating bow ties, tailored blazers worn on bare skin and military-inspired equestrian jackets paired with slim velvet pants.

Bursts of embroidery and colored feathers provided a balance from the monochrome.

Armani’s recent absences have sent ripples through the industry. In a landscape dominated by conglomerates like LVMH and Kering, Armani remains the sole shareholder of his company, personally overseeing every collection for nearly 50 years. In 2024, Armani Group reported revenues of $2.5 billion, while Giorgio Armani’s personal fortune is estimated at $11–13 billion — even as the global luxury market faces headwinds.

Armani is widely credited with redefining men’s and women’s tailoring, pioneering gender-fluidity in fashion, and inventing celebrity red-carpet dressing, from Julia Roberts to Cate Blanchett. Yet the designer himself has acknowledged that age is now a reality to deal with and that pulling back could be a necessity.

Whether the monochrome collection was a deliberate metaphor or simply a showcase of discipline, “Seductive Black” felt personal — both a mood and a message, perhaps an understated nod to a master whose presence, even in absence, remains absolute.

As the show closed, the final bow belonged to the models alone. But Armani’s vision — uncompromising and unmistakably his — filled the room.