About You goes public

The Hamburg-based online fashion retailer has announced that it will go public on the Frankfurt Stock Exchange before the end of this quarter. About You wants to raise 600 million euros in the process.

Rumors that About You is aiming to go public have been accumulating for months. It was only in April that the company became a public limited company. Now it's official: the Hamburg-based online fashion retailer wants to go public on the Frankfurt Stock Exchange before the end of this quarter. The aim is to raise 600 million euros through the share placement. The company then intends to use this to further expand its international business. In the 2020/2021 financial year alone, About You launched in 13 new markets and increased its turnover by 57% to 1.17 billion euros.

"Fashion e-commerce will become even more digital, mobile, personalized and inspiring in the coming years," says co-founder Tarek Müller. "We are in an excellent position to lead this transformation and the planned IPO will help us capitalize on this unique opportunity."

About You is a subsidiary of the Otto Group and was founded in 2014 by Tarek Müller, Hannes Wiese and Sebastian Betz. The company offers fashion online, targeting young people from generations Y and Z. The associated app has been downloaded 26 million times and, according to the company, 30 million users visit the site every month.