Europe’s largest online fashion platform, Zalando, is becoming a key player in the sporting goods market. The company’s Q3 2025 results confirm that its shift towards sportswear, activewear and performance apparel is gaining traction, reshaping competition across the activewear sector.
Zalando reported third-quarter revenues of €3.02 billion, a 26.5 percent year-on-year increase, driven by the consolidation of About You and solid performance in its sportswear and lifestyle categories.
On a pro-forma basis (as if About You had been part of the group in the prior year), revenue grew 7.5 percent. Gross merchandise volume (GMV) reached €4.21 billion, up 21.6 percent reported and 6.7 percent pro-forma. The company confirmed its full-year guidance and continued to emphasize its “multi-specialist” strategy, focusing on verticals like Sports, Designer, Beauty and Pre-owned.
Partnership with the German Football Association
On Nov. 6, Zalando became a main partner of the German Football Association (DFB) in a five-year deal running through 2030. The move reinforces the company’s sports offensive and follows recent partnerships with major marathons, including Berlin, Rotterdam and Copenhagen.
Expansion into sports and athleisure
The company is curating assortments for key sports, including running, cycling and yoga, adding high-performance brands such as On and Lululemon. Its “Worlds of Sport” concept features online hubs with athlete stories, expert advice and community engagement, blurring the line between retail and media. The DFB partnership complements Zalando’s existing marathon sponsorships, establishing a 360-degree presence in football and running – two of Europe’s most commercially significant sports.
The bigger picture
By linking performance and style, Zalando is positioning itself at the heart of Europe’s fast-growing athleisure and lifestyle-wear market. The company is also broadening inclusivity, introducing adaptive sports collections for consumers with disabilities. The number of active customers has reached 61.4 million over the past 12 months, up from 50.3 million a year earlier, thanks in part to the integration of About You.
Financial outlook
Adjusted EBIT for Q3 reached €96.3 million, up from €92.7 million in Q3 2024, though the adjusted EBIT margin declined slightly to 3.2 from 3.9 percent, because of integration costs and logistics investments.
Zalando has confirmed its full-year 2025 guidance: GMV and revenue growth of 4 to 7 percent (pro-forma), adjusted EBIT of €550 to €600 million, and capex of €200 to €280 million. The company also announced that Anna Dimitrova will be CFO as of Jan. 1, 2026.
The bottom line
Zalando is no longer just a fashion marketplace – it is emerging as a digital competitor in the sporting goods sector, leveraging scale, data, consumer insights and high-profile partnerships (e.g., with the DFB) to shape Europe’s next generation of sports retail.
