Gross Merchandise Volume up 1.3 to 3.27 bln euros
Shares rise 7
Active customers fall to 49.5 mln from 51.2 mln
Zalando does not want to compete in ultra low prices CFO

May 7 Reuters Online fashion marketplace Zalando returned to growth in the first quarter after three consecutive declines in gross merchandise volume, as bets on more premium brands and its business servicing other retailers paid off.

While fastfashion retailer Shein is a threat to Zalando39;s revenues and customer numbers, Chief Financial Officer Sandra Dembeck said the company does not want to compete on price, instead trying to differentiate itself with a range of higherpriced brands such as On Running, which it recently added.

We do not want to compete in the ultra fast fashion, ultra low price point segment, Dembeck said in a press conference. Zalando39;s average order value increased to 60.4 euros 65 in the first quarter, from 57.3 euros a year earlier.

Quarterly gross merchandise volume GMV a key revenue metric measuring the total value of all goods sold rose 1.3 to 3.27 billion euros from 3.23 billion a year earlier, the German online fashion retailer said.

At 0820 GMT, the company39;s shares were up 7.

As inflation has hit demand for clothes, Zalando has sought new revenue drivers and started offering its platform and logistics network as a service to other retailers and brands.

Revenue from Zalando39;s businesstobusiness B2B service was up 13 at 215 million euros.

Zalando39;s…