Hamburg-based fashion e-tailer About You has announced its intention to list on the Frankfurt Stock Exchange as of Q2 of this year. With the listing, About You will also file an accompanying private placement reserved for institutional investors with which it intends to raise at least €600 million in gross proceeds. The majority of this raise is slated to be used to scale operations internationally, beef up its SaaS offering, and in infrastructure and distribution centre upgrades.
Founded in 2014 by Sebastian Betz and Tarek Müller, the Otto Group sub-organisation unicorn About You is a fashion e-commerce platform with a heavy mobile shopping experience emphasis. The company is active in 23 markets and reports approximately €1.17 billion in revenues in the 2020/21 financial year, thus achieving group profitability (measured as adjusted EBITDA).
“Today’s announcement marks an exciting step toward realizing our vision of becoming the leading global fashion platform. We have gone from strength to strength since founding ABOUT YOU seven years ago, having established one of the largest European fashion offerings for Generation Y&Z. But this is just the beginning,” comments Müller. “Fashion e-commerce will become even more digital, mobile, personalized and inspirational in the years to come, and we are in a strong position to lead this transformation. The planned stock market listing will help us seize this unique opportunity by building on our best-in-class technology and software solutions aimed at digitizing the offline shopping stroll.”