Hamburg's About You now listed company
The Hamburg-based online fashion dealer About You is now listed on the stock exchange and began trading Wednesday (June 16, 2021) on the Frankfurt Stock Exchange (Prime Standard). The final offer price amounts to EUR 23 per share. Most of the proceeds from new shares will be used for the international scaling of the offer and to ramp up the expansion of the Software as-a-Service (SaaS) business in the Technology, Media and Enabling (TME) segment, the company said. This will boost both the company's technical infrastructure and sales centres. Tarek Müller, joint founder and Board Member Marketing & Brand, remarked: "We look forward to continuing our fantastic growth story, building on the success of the last seven years. Together with our team, our customers and our investors, we are opening an exciting new chapter in our story and will continue to lead the digital transformation of our industry."
Sales mark of EUR 1 billion exceeded
In April, Europe's fastest growing fashion platform surpassed the EUR 1 billion revenue mark. About You's net sales rose by 57 per cent to EUR 1.17 billion in the 2020/21 fiscal year. The company was profitable on group level for the first time in Q4 on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin. The company's own technology platform, which is offered to brands and retailers as a licensed product, proved a catalyst of the strong growth and profits.
About You - Hamburg's first unicorn
Founded in 2014, About You became Hamburg's first unicorn in 2018 and has launched on 23 European markets. More than 30 million monthly active users in the fiscal year 2020/21 made the e-commerce company the top fashion platform for generations Y and Z, the company said. The growing European fashion market in which About You operates is estimated at EUR 400 billion with online fashion alone accounting for EUR 75 billion.
Founded in 2014 by Benjamin Otto and Tarek Müller as a fashion start-up of the Hamburg-based Otto Group, About You's product range consists of over 400,000 items by 2,000 brands. The company employs more than 1,000 employees from over 65 nations. Sales of EUR 1.17 billion were earned in the 2020/21 fiscal year. The Otto Group is the largest shareholder.