Zalando is making strides to become a pan-European ecommerce leader by acquiring About You.
- The proposed offer is €6.50 per share, a 12% premium on About You’s current stock price.
- Key stakeholders representing 73% of About You’s shares have agreed to sell to Zalando.
- Zalando and About You envision unique yet complementary B2C and B2B operations post-acquisition.
- The transaction is anticipated to significantly enhance customer and partner experiences across Europe.
Zalando is poised to expand its ecommerce footprint across Europe through its strategic acquisition of the German online fashion platform, About You. The retailer has announced its intention to offer €6.50 per share, which stands as a 12% premium over the existing stock price, valuing About You at approximately €1.1 billion.
Major shareholders, including the Otto Group, Otto Family, Heartland, and current management, who together hold 73% of About You’s share capital, have committed to sell their shares. This agreement marks a significant step towards consolidating Zalando’s position as a dominant player in the European fashion ecommerce market.
Both Zalando’s and About You’s management teams have expressed enthusiasm about the acquisition. Zalando’s co-founder and co-CEO Robert Gentz highlighted the potential to enhance the shopping experience for customers and partners significantly. About You’s co-founder and co-chief executive Tarek Müller echoed similar sentiments, emphasising the unique opportunity to integrate their respective B2C and B2B operations effectively.
Post-acquisition, Zalando and About You aim to operate distinct B2C businesses that cater to specific customer needs, while their B2B operations will align to offer a holistic and optimised range of logistics, software, and services.
This acquisition is expected to not only broaden the service offerings available to customers in the fashion and lifestyle sectors but also streamline operations, leveraging the distinct strengths of both companies.
This acquisition marks a significant milestone in the expansion of Zalando’s ecommerce presence across Europe.
