Zalando has announced that it intends to make a takeover offer for up to 100% of the shares in About You. The Executive Board and Supervisory Board of About You intend to recommend that shareholders accept the offer. The main shareholders Otto Group, the Otto family, Heartland and the management have already committed to selling their shares totaling around 73% of About You’s share capital to Zalando.
Zalando plans to make an offer of 6.50 euros per share. This corresponds to a premium of 12% on the analysts’ average price target of EUR 5.80 and a premium of 107% on the volume-weighted three-month average price of About You shares on December 10, 2024.
In the B2C sector, the resulting group will pursue a two-brand strategy. In the B2B sector, About You software Scayle will complement the Zalando Zeos e-commerce ecosystem to jointly help brands and retailers run their multichannel e-commerce business across Europe via a unified platform with logistics, software and to handle service functions. The group is intended to develop into the shaper of European fashion and lifestyle e-commerce. In the long term, Zalando is aiming for significant synergies of around EUR 100 million per year at the group EBIT level. Sebastian Betz, Tarek Müller and Hannes Wiese, the founders and co-CEOs of About You, will continue their work in the group in their previous roles.
