Zalando SE, the Berlin-based online fashion giant, has agreed to acquire rival About You Holding SE for €1.2 billion, marking a major step to solidify its dominance in Europe’s e-commerce market. The offer of €6.50 per share represents a 67 per cent premium to About You’s last closing price.
The acquisition, backed by About You's management and major shareholders, including the Otto family and Denmark’s Holch Povlsen, will expand Zalando’s share of Europe’s €450 billion fashion and lifestyle market. About You, founded in 2014, boasts 12 million monthly users and a portfolio of 700,000 items. Its Scayle platform, which supports retailers’ digital growth, complements Zalando’s Zeos system.
The two brands will operate independently, but synergies in logistics and operations are expected to yield €100 million annually. The deal, pending regulatory approval, aims to enhance business-to-business services and long-term profitability despite potential competition concerns.
