Zalando says the deal will help it build a pan-European e-commerce platform.
German retailer Zalando announced on Wednesday that it has agreed to buy rival About You for about 1.1 billion euros. The management and main shareholders of About You, who represent 73% of its capital, They have agreed to sell their sharesaccording to Zalando’s press release. The transaction is expected to close in the summer of 2025subject to regulatory approvals.
About You, founded in 2014, has more than 12 million active customers and has around 4,000 brands. Wednesday’s statement notes that About You appeals to a “young fashion audience” and is therefore more “style oriented” than Zalando, which tends to be more “brand-oriented.”
Zalando adds that the “complementary strengths” of the two companies “will be perfectly aligned to deliver a complete and optimized offering for customers” across Europe. In the long term, it is expected that the process of combining operations generate around 100 million euros of annual cost savings.
Zalando shares fell more than 6% in daily operations around 10:15 in the morning. About You Actions They rose around 63%.
Add Comment