“Zalando and About You are joining forces to jointly shape online fashion and lifestyle commerce in Europe,” a statement from the companies said. Zalando intends to pay 6.50 euros per About You share, two-thirds more than its value at the close of the Frankfurt stock exchange on Tuesday, and ultimately acquire 100% of the shares.
Zalando shares fell 6.1% on Wednesday around 10:00 a.m., with investors expressing their dissatisfaction with this operation. Majority shareholder of About You with 73% of the shares, the Berlin logistics group Otto will sell its entire stake to Zalando.
The transaction is expected to be finalized in the summer of 2025, after satisfying the necessary regulations, according to the press release. A gem of German online commerce, About You was founded in 2014 and stands out in particular for its numerous collaborations with stars.
The two German companies hope to create a European leader capable of standing up to the Chinese Shein and Temu, which is experiencing rapid growth in Europe thanks to a strategy of low prices.
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