European Online Retailer Zalando Plans IPO This Year

Europe's biggest online fashion retailer, Zalando SE, says it plans a public listing on the Frankfurt exchange this year.

Zalando said in a statement Wednesday that it intends to offer 10 to 11 percent of its stock in the IPO.

Founded six years ago, the Berlin-based company is one of Germany's most successful Internet start-ups, with some 7,000 employees.

Swedish holding company Kinnevik AB, Zalando's biggest shareholder, last year estimated the company's value at just under 4 billion euros (currently $5.3 billion).

Zalando last week reported revenues of 1.05 billion euros and its first operating profit of 12 million euros for the first half of 2014.

The site claims over 100 million visits a month and 14 million active users who have made a purchase in the last 12 months.