Online clothing store About You hopes to participate in the fair in Frankfurt before the end of June. With this, it is expected to raise at least 600 million euros from investors.
In addition, “About You” sells shares to institutional investors and existing shareholders.You can do it again Small four hundred One million euros.
about you Announce The time of the IPO earlier today. It is not clear how many shares will be issued at what valuation.
The newly raised funds will be used for international activities outside of the German domestic market. This means: start from other countries, but also launch its business SaaS products. This involves cloud services in the areas of technology, media, technical infrastructure and distribution centers. The OTTO subsidiary was a cloud provider in the fashion field at the beginning of its establishment. In this way, its turnover reached 84 million euros (61% increase).
This German company was founded in 2013 in response to Zalando’s OTTO. In the past fiscal year, the company achieved a turnover of 1.2 billion euros (+57%). It has operational profitability at the group level and is expected to increase its turnover this year by 40% to 50%. Half of the turnover comes from the German-speaking market.
photo: Giuseppe Milo (Cc)