Zalando SE Q4 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Rocco Strauss - Arete Research Services LLP - Analyst : I guess I have 2. I mean, the first question is on the EUR 30 billion GMV target for 25% and the 10% market share target a few years later. I was just wondering if this is actually comparable to each other? Or if it is a bit of, kind of, like, apples and oranges with respect to the EUR 30 billion, also including tapping into luxury goods or like the premium segment into beauty, home and living and so on? So first question is actually what's included here? Or do these adjacent categories actually provide some additional insights -- sorry, upside potential? And then the second question is on CapEx. Is there anything you can share around, like potential locations of additional hubs, like either U.K. or Eastern Europe? And also, is there some potential for CapEx going, kind of, like, into OpEx with Zalando renting out more kind of like inner-city