German Retailers Invest in Greece: Zalando, New Yorker, Westwing

Despite previous failures, the Greek retail market continues to attract German investment, with companies like Zalando, New Yorker, and Westwing entering the market.

In 2024, e-commerce turnover in Greece reached €18.2 billion, a 5% increase compared to 2023. Average annual growth of 11.7% is expected until 2027.

Zalando, the largest online fashion company in Europe, announced its expansion into Greece in March 2025, following the acquisition of About You, which has been operating in Greece since 2021.

New Yorker established its subsidiary New Yorker Greece Μονοπρόσωπη ΙΚΕ in April 2025, marking its entry into the Greek market. In 2024, New Yorker achieved sales of €3.8 billion.

Westwing, specializing in the online sale of furniture and home decor, is also targeting the Greek market, having already expanded into Croatia, Finland, and Slovenia in the second quarter of 2025.

According to ELSTAT, retail turnover in 2024 amounted to €71.57 billion, a 2.4% increase compared to 2023. German companies are betting on consumers' shift towards online shopping.