Last year, fashion platform About You passed the billion-euro milestone in terms of turnover. Sales outside the German-speaking market have more than doubled, and in the fourth quarter, the marketplace reached break-even for the first time.
Making money becomes easier
Last financial year, About You achieved 57 % growth: with sales of 1.17 billion euros, the online retailer broke through the billion euros barrier. This growth was mainly achieved outside the German-speaking home market (+ 29 %): the “rest of Europe” recorded a 145 % growth in net sales, to 464 million euros. The explanation: the platform went online in no fewer than thirteen new markets.
At group level, the Zalando competitor was also profitable for the first time (briefly): in the fourth quarter, the fashion marketplace achieved a positive EBITDA. For the full year, the group still recorded an adjusted EBITDA margin of – 3 %, although this was better than the – 9 % recorded a year earlier. Per capita revenues are rising while attracting customers is becoming cheaper and operational performance is improving, co-founder Tarek Müller explains.
The finance chief and co-founder still sees great potential in further digitising the fashion market thanks to the continued increase in smartphone and social media usage and the fact that Gen Y and Z’s purchasing power increases along with their age. This year, the company plans to expand its product portfolio further and launch in Southern Europe and the Scandinavian countries.
