There’s a lot about Zalando (OTCPK:ZLNDY) that will look familiar to experienced investors — namely that tension between disruptive long-term growth and the fair price to pay today for that growth potential. Zalando has definitely made a mark in fashion e-commerce in Germany, and there is ample room to expand throughout Europe and into higher-margin services, but Amazon (NASDAQ:AMZN) looms large as a threat and more value-conscious investors may fret about how long it will take the company to earn attractive returns on the considerable sums it is putting into market