BRUSSELS (dpa-AFX) - German online retailer Zalando has been granted approval to acquire its domestic competitor About You. The European Commission, responsible for competition policy, stated that the proposed takeover raises no competition concerns. Consumers and brands will continue to have a wide range of alternatives available.
At the end of 2024, it became public that the DAX-listed company was offering 6.50 euros per About You share, valuing About You at approximately 1.2 billion euros. Zalando co-CEO Robert Gentz aims to use the move to "cover a larger share of the European online market for fashion and lifestyle."
By 2028, the combined company is targeting average annual growth in revenue and gross merchandise volume of five to ten percent. This would bring double-digit percentage growth rates--once Zalando's hallmark--back within reach. However, growth rates seen during previous boom periods, such as the coronavirus pandemic, remain a distant prospect./mjm/DP/mis
