Sweden’s Kinnevik says Zalando can withstand Amazon threat

Swedish investment firm Kinnevik, which backs Europe's biggest pure online fashion firm Zalando, is confident the retailer can withstand competition from Amazon because it caters to a different type of customer. Zalando's shares have tumbled 11 percent this year as investors have expressed fears it is more exposed to Amazon's foray into fashion than British rival ASOS, whose shares have rallied 30 percent since the start of 2016. Kinnevik is Zalando's biggest shareholder.

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