// Quiz terminates partnership with Zalando following significant increase in return rates
// Quiz recorded a 97% fall in its full-year pre-tax profits to £0.2m this morning
Quiz has ended its partnership with German etailer Zalando after return rates significantly increased via the platform.
The fast fashion retailer recorded a 97 per cent fall in its full-year pre-tax profits to £0.2 million this morning.
“Online returns are a big issue for the whole industry, the rate of returns has been rising and the whole industry talks about how to handle it because it has been costly,” Quiz chief executive Tarak Ramzan said.
“Returns on our own website have not increased dramatically, it is more on some of our third-party websites [they have] have gone up.”
According to Ramzan, Quiz is committed to its wholesale partnerships with Next and Debenhams.
He added that selling via third-party websites was an area of the business that Quiz intended to expand, but will now be “more careful” about who the company works with going forward.