Zalando, Europe's biggest fashion etailer, said sales last year slowed during the second half of last year as rivals engaged in aggressive discounting.
Total sales in the year grew 52 per cent to €1.76 billion (£1.44 billion). But sales in the final quarter of 2013 increased 36 per cent compared to a 42 per cent rise in the third quarter. Sales had grown 70 per cent in the first half.
European clothing retailers have complained that warmer weather over winter hampered demand forcing them to cut prices to attract more shoppers.
The figures were released on Friday in an end of year presentation by major shareholder Kinnevik, which owns 36 per cent of Zalando.
The documents show Kinnevik has valued its investment in Zalando at 12.14 billion SKr (£1.13 billion). That values the total business at 33.7 billion SKr (£3.13 billion). That is 42 per cent more than Kinnevik's estimated value for the firm this time last year.
The value is less than suggested in the Sunday Times last month which suggested Zalando could be worth £4 billion (€5 billion).
The Swedish firm said it has estimated the value based on a multiple of two times sales, a much more conservative estimate than the four times sales multiple being applied to many UK ecommerce firms eyeing a stock market float including Boohoo.com and AO.com.
Speaking to news wire Reuters about a potential IPO, Zalando executive and co-founder Rubin Ritter said 'right now there is no decision on this topic.'
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