About You to go public?
Lars-Thorben Niggehoff
| 09.04.2021
Activities of the Otto Group's online subsidiary apparently point to a possible IPO. A merger with Zalando, on the other hand, is no longer an issue.
Hamburg-based online fashion retailer About You may be preparing an initial public offering. This is reported by Business Insider
. The parent company Otto, which has so far viewed a leap to the capital market rather critically, did not want to deny the rumors to the medium at first.The three About-You managing directors Sebastian Betz, Tarek Müller and Hannes Wiese converted their company into a stock corporation before Easter and installed a supervisory board. Both are steps that would be necessary for an IPO. According to Business Insider
, a merger between About You and its competitor Zalando, which has been rumored time and again, is now finally off the table. The reason is probably that About You is now too big for such a step. In the 2020/21 fiscal year, the e-commerce company came to operating revenues of about 1.2 billion euros.
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