**Zalando to Acquire Rival E-Tailer About You in €1.3 Billion Deal**
Berlin-based online fashion giant Zalando announced on Wednesday its intention to acquire rival e-tailer About You for $1.3 billion. Zalando will offer €6.50 per share for About You, representing a 67 percent premium to Tuesday’s closing price.
The acquisition marks a significant consolidation in the German e-commerce sector, bringing together two of the country’s leading online fashion retailers. Zalando, founded in 2008, has become Europe’s largest online platform for fashion and lifestyle products, serving millions of customers across numerous markets. About You, launched in 2014, has swiftly risen in popularity due to its personalised shopping experience and strong appeal to younger consumers.
By uniting, Zalando aims to bolster its market position and broaden its customer base. The deal is expected to enhance Zalando’s offerings by integrating About You’s innovative personalisation technology and influencer marketing strategies. This move also allows Zalando to access About You’s extensive network of brand partnerships and exclusive collections.
The acquisition is subject to regulatory approval and is anticipated to be finalised by the end of the year. Both companies have expressed enthusiasm about the merger, highlighting the potential for synergies and growth opportunities. The combined entity is poised to offer an enriched shopping experience, providing a wider array of products and services to customers.
Industry analysts view the acquisition as a strategic step for Zalando to maintain its competitive edge in the rapidly evolving e-commerce landscape. As consumer preferences increasingly shift towards online shopping, the
Source: Zalando to Buy German E-Commerce Player About You for $1.3 Billion
Author: Bloomberg
