Zalando wants to take over ABOUT YOU
Marc Nemitz
| 11.12.2024
Zalando and ABOUT YOU join forces - independent but united plans for a better shopping experience.
E-commerce giants Zalando and ABOUT YOU are planning to work more closely together to reshape the European fashion and lifestyle market. Zalando has announced a takeover bid for ABOUT YOU, opening up new potential in the B2C and B2B sectors.
Takeover offer and shareholder approval
Zalando is offering 6.50 euros per share, which represents a premium of 107% on the 3-month average ABOUT YOU share price. The main shareholders, including the Otto Group and the management, have already agreed to sell their shares, giving Zalando access to around 73% of the share capital.
Two-brand strategy in the B2C sector
This partnership creates something truly unique: two independent B2C businesses that are perfectly tailored to the specific needs of their customers.
Tarek Müller, co-founder and co-CEO of ABOUT YOU
ABOUT YOU will remain an independent brand in the B2C segment. Together with Zalando, the aim is to create a broader, customized shopping experience for different target groups that leverages the individual strengths of both platforms.
Strengthening in the B2B area
It has always been the drive of both our teams to redefine fashion and lifestyle shopping and create the best possible experience for partners and customers. I am delighted that together we can now cover a larger share of the European online fashion and lifestyle market
Robert Gentz, Co-CEO and co-founder of Zalando
The integration of SCAYLE (ABOUT YOU) and ZEOS (Zalando) creates a unified platform for brands and retailers. The aim is to efficiently implement multichannel strategies with bundled expertise and thus achieve long-term synergies of 100 million euros annually.
The transaction, which is expected to be completed by summer 2025, marks the merger of two founder-led companies that want to further develop European e-commerce together.
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