Zalando is making strategic moves in the fashion ecommerce sector.
- The company plans to acquire German online platform About You.
- The deal is valued at approximately €1.1 billion, with a share offer price at a 12% premium.
- Major stakeholders have agreed to sell their shares to Zalando.
- Company co-founders express optimism about market expansion and operational synergies.
Zalando is strategically expanding its presence in the European fashion ecommerce market by acquiring About You, a major German online fashion retailer. This transaction is valued at roughly €1.1 billion, with Zalando offering €6.50 per share, representing a 12% premium over the current stock price.
Key shareholders in About You, such as Otto Group, Otto Family, Heartland, and the current management team, who collectively own 73% of the company’s share capital, have entered binding agreements to transfer their shares to Zalando. These stakeholders have expressed their intention to accept Zalando’s public offer.
Both the management and supervisory boards of About You are likely to advocate for shareholder approval of this offer, further solidifying the deal’s progress.
Co-founder and co-CEO of Zalando, Robert Gentz, has indicated that this acquisition aligns with their objective of enhancing the fashion and lifestyle shopping experience for their customers and partners. He believes that this will enable the companies to capture a larger market share.
Tarek Müller, co-founder and co-CEO of About You, shared that the organisational strengths of both companies will form a unique B2C and B2B alliance. This will provide a comprehensive suite of logistics, software, and services to clients, effectively meeting distinct customer needs.
The acquisition of About You by Zalando marks a significant step towards creating a comprehensive pan-European ecommerce platform.
