Zalando to acquire ABOUT YOU for €1.2bn.

Zalando, an European online fashion platform, has announced its intention to acquire ABOUT YOU, a German online fashion retailer, for €1.2bn. “We are thrilled to team up with so many brilliant entrepreneurial colleagues and together move the success stories of Zalando and ABOUT YOU to the next level. This transaction creates something truly unique, with two distinct and independent B2C businesses serving the specific needs of their customers. At the same time, the complementary strengths of the B2B businesses will seamlessly align to deliver a comprehensive and optimized offer for clients in logistics, software and services," Tarek Müller, ABOUT YOU Co-Founder and Co-CEO.