Germany's About You's Q2 turnover exceeds 400 million euros

July 29th news, according to foreign media reports, recently, the German fashion e-commerce platform About You released its first financial quarterly report since its listing. The report shows that as of May 31 , About You 's sales continued to grow, its customer base continued to expand, and its turnover increased by two-thirds ( 65.5% ) to 422.1 million euros .

The report pointed out that in the second quarter of this year, About You continued to grow, and combined with the strong start in the first quarter , revenue for the full fiscal year is expected to increase by 40% to 50% to 1.63 billion to 1.75 billion euros .

In addition, the report also pointed out that the main reason for the significant increase in About You's turnover was the company's continuous expansion into other European markets and the outbreak of the new crown epidemic, which forced people to participate more in online shopping.

About You is currently active in 26 countries , and last quarter the company began expanding into Greece, Norway and Portugal .

While vigorously expanding its business scope, the company also attaches importance to brand promotion. Recently, About You launched an exclusive series and personal brand with the famous German singer Lena Mayer-Landrut , and introduced new brands such as Weekday, Allsaints and Pinko .

This series of operations brought a lot of traffic to the e-commerce platform. The number of active consumers surged from 6.5 million a year ago to 9.2 million , and the average order value also increased from 55.8 euros to 58.1 euros during the same period .

It is reported that among all About You's businesses, the B2B (TME) business is the fastest growing and the only profitable department of the group.

In About You 's B2B (TME) business , they provide a variety of cloud services in the fields of technology, media, infrastructure and distribution centers to a wide range of retailers . The combined turnover of these businesses has grown by no less than 135.8% per year , reaching at least 34.5 million euros .

About You is a fashion and technology company based in Hamburg. It was co-founded in 2014 by technology entrepreneurs Sebastian Betz and Tarek Müller and former Otto Group strategist Hannes Wies, and later became a subsidiary of OTTO. The group aims to create a personalized shopping experience for young women in their 20s and 30s through smartphones.

With the successful listing of About You , the group is also in a stage of vigorous development. It is recommended that interested merchants learn more about this platform.

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About You

Financial Report