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Zalando swallows About You: Hamburg fashion hero in new alliance!
Zalando plans to buy About You, the Hamburg fashion retailer, for around 1.2 billion euros by summer 2025.
Zalando swallows About You: Hamburg fashion hero in new alliance!
The Hamburg-based Otto Group has decided to sell the online retailer About You to Zalando. Zalando intends to make a voluntary public takeover offer for up to 100 percent of About You's share capital at a price of 6.50 euros per share, representing a valuation of approximately 1.2 billion euros. About You's main shareholders, including the Otto Group and the company's founders, have already agreed to sell their shares, which total 73 percent of the company, to Zalando. This step is expected to be completed by summer 2025, but is subject to the necessary regulatory approvals, as NDR reported.
Strategic synergies and leadership changes
With this merger, Zalando and About You aim to join forces in European fashion and lifestyle e-commerce. The two companies are expected to achieve synergies of around 100 million euros annually, both in B2B and B2C areas. The current managing directors of About You, Sebastian Betz, Tarek Müller and Hannes Wiese, will remain in their positions even after the takeover, which will ensure continuity in company management. According to Business Insider, About You management intends to recommend that shareholders accept the takeover offer.
The combination of the two companies will pursue a dual brand strategy that allows them to cater to different shopping experiences. Zalando aims to expand its market share in the European fashion business, while About You, known for its innovative approaches and connections on social media, can continue to appeal to its younger audience. The acquisition not only creates an expanded offering for customers, but also brings together new technologies and services in the rapidly growing e-commerce sector, as summarized in the latest news.
This strategic decision will strengthen the potential of both brands to jointly capture a significant share of the European market. Read more details about this significant merger in reports from NDR and Business Insider.