Zalando invests in tech after muted first quarter

By Caroline Copley BERLIN (Reuters) – Zalando , Europe's biggest dedicated online fashion retailer, reported a 30 percent fall in first-quarter profit as it stepped up investments in tech to grow its business, betting that more and more customers will shun stores to shop online. E-commerce is growing faster than store-based retail and Zalando is spending on technologies to help brands sell directly on its site and keep ahead of rivals like Amazon , which is looking to expand in the fashion market. Zalando said it had signed up over 150 partners, including Adidas and Superdry, and on Thursday announced the acquisition of Tradebyte Software GmbH for an undisclosed price to help it digitalize the stock in brands' warehouses.

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