Foreign media reported that Germany 's About You is seeking to raise 941 million euros in its Frankfurt IPO , with a price range of 21 euros to 26 euros, implying a market value of 4.4 billion euros.
The private placement will be entirely participated by institutional investors and is expected to be completed on June 14 , and is only available to institutional investors. The first day of trading on the Frankfurt Stock Exchange is scheduled for Wednesday, June 16. With the funds from the IPO, About You will further expand and the proceeds can also be used for technology investment.
About You is a fashion and technology company based in Hamburg. It was founded in 2014 by tech entrepreneurs Sebastian Betz and Tarek Müller together with former Otto Group strategist Hannes Wies. About You aims to digitize the classic mall stroll by creating a personalized shopping experience on smartphones, catering to young women in their 20s and 30s.
About You operates in 23 European countries, including the Czech Republic. Its competitors are Zalando in the consumer space and Shopify, SAP and Salesforce in the enterprise platform space. The company's co-founder Tarek Müller said he looks forward to expanding the investor base and building the company into a leading global fashion platform.
The part of About You's business selling directly to consumers through its app generated more than 1 billion euros in sales in the year to February. Using an average multiple of 1.7 for rivals Zalando (ZALG.DE) and Asos (ASOS.L) , it is worth 1.9 billion euros.
Last quarter, the company achieved earnings before interest, tax and depreciation ( EBITDA) for the first time since its founding. The German-speaking market, which accounts for more than half of its sales, grew sales by 29% last year and had a positive EBITDA margin. In the rest of Europe, the company's sales grew by 145%, but the margin was negative. About You expects sales to grow by 40% to 50% this year.
Meanwhile, its fashion business, which is similar to U.S. e-commerce giant Shopify (SHOP.TO) , helping brands such as Marco Polo sell clothing online, had revenue of 84 million euros. At 30 times Shopify's sales, it could earn 2.5 billion euros.
" The planned IPO provides us with the opportunity to build on our strong growth and further develop digital shopping," said About You boss Tarek Müller. Germany About You Listing |
<<: Survey shows: 45% of Indian households may buy home office products in the next three months
>>: Best Buy's first-quarter sales increased 36%, with electronics being the hottest seller
As the dividends from the epidemic gradually shri...
FoodsAlive is a family owned and operated business...
Akamai is the world's largest and most trusted...
bohowe is the world's leading online retailer ...
Product recalls are not uncommon. The U.S. Consum...
According to Amazon's official introduction, ...
Sellers who have plans to enter the European mark...
OFC , namely Yanyi Technology (Shenzhen) Co., Ltd....
This year's Black Friday Cyber Monday promo...
Sima Cross-border takes it as its mission to assi...
The seller used black technology to send hundreds...
The reports also identify e-commerce platforms an...
But if sellers focus on social e-commerce in Sout...
Tanquan SCRM provides customers with one-stop pri...
TikTok Shop's biggest Black Friday sale in hi...