Germany’s Federal Financial Supervisory Authority (BaFin) has initiated a review of Zalando’s consolidated financial statements and management report for the past year. The authority said there are “concrete indications” that the online fashion retailer may have violated accounting regulations. Zalando stated it is in close contact with BaFin.
The investigation focuses on a transaction with a related company in connection with the acquisition of About You, which Zalando bought last year. BaFin is examining whether the company may have incorrectly omitted disclosures about this in the notes to the 2025 consolidated financial statements. A review does not automatically imply a violation – at this stage, it is merely a suspicion.
The news sent Zalando’s shares tumbling. The previous day, the stock had reached around 27 euros, its highest level since October 2025. After the investigation was announced, the share price fell by up to 20 percent at times, before recovering slightly and recently trading around eight percent lower. The stock remains far from its record high of over 100 euros in 2021.
Source: Tagesschau
