About You is profitable for first time in fiscal 2023-24

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About You is profitable for first time: German fashion e-tailer About You celebrated a significant achievement with a €3.2 million profit for its non-standard financial year ending in February 2024. This milestone is noteworthy for the Hamburg-based company, founded in 2014, as its revenue remained stable at €1.9 billion, marking a modest 1.6% increase.

Co-CEO and co-founder Tarek Müller expressed pride in the company’s performance, emphasizing the success of their founder-led business model in achieving a balance between margin expansion and growth. Müller highlighted About You’s proactive approach to navigating market challenges, focusing on positioning the company as a profitable growth business for the long term.

Despite facing challenges in the previous fiscal year, About You reported a robust customer base, with 12.3 million active customers in 2023-24, resulting in 37.8 million orders. The average order frequency remained consistent with the previous year at 3.1 orders, while the average order value increased by 5.8% to €58.

Revenue remained steady in the DACH region (Germany, Austria, and Switzerland) at €916.7 million, while experiencing a 2.8% growth in the rest of Europe, reaching €925.9 million. Additionally, the group’s B2B unit, part of the Tech, Media, and Enabling (TME) segment, reported a revenue of €188.9 million, albeit a slight decline of 3.2%.

About You made strategic moves to enhance its offerings, including the spin-off of Scayle, a subsidiary specializing in digital solutions for e-tail businesses. With solutions utilized by 200 e-tailers and an external transaction volume of €3.8 billion, Scayle is poised for expansion into North America.

Operating in approximately 100 markets and offering tailored product selections in 28 European countries, About You forecasts a growth rate between 1% and 10% for fiscal 2024-25. Notably, the company expects EBITDA to experience substantial growth, increasing from €10 million to €30 million, reflecting its confidence in continued success and expansion.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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