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About You co-founder Tarek Müller: IPO in spring 2021?
Photo: Christian Charisius / DPA
The online fashion shop About You apparently wants to go public.
The
manager magazin
reports
citing insiders.
The About You leadership around CEO Tarek Müller is already talking to investment banks, including Goldman Sachs and Morgan Stanley.
No institute has yet been mandated.
Internally, an IPO of the mail order company Otto from March 2021 is considered realistic.
The Zalando rival should aim for a market value of at least three billion euros when it goes public.
According to the report, About You is aiming for sales of at least 1.1 billion euros this year.
About You is already profitable in German-speaking countries.
The development of the larger competitor Zalando could serve as a model: The share of the spin-off of the start-up factory Rocket Internet has risen by around 350 percent since it went public in September 2014.
The mail order company now has a market value of 20 billion euros and is one of the few winners from the corona crisis: During the pandemic, the group gained millions of new customers.
For CEO and founder Tarek Müller, the IPO could also be personally worthwhile.
According to manager magazin
he holds almost one percent of the shares and, like the entire management team, would participate in an IPO through a participation program.
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