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ABOUT YOU GmbH
Company typeGesellschaft mit beschränkter Haftung
IndustryInternet, E-Commerce, Fashion
FoundedJune 2013
FounderTarek Müller, Sebastian Betz, Hannes Wiese
HeadquartersHamburg, Germany
Revenue (135 Mio. € (2016/17))
Number of employees
500
Websitewww.aboutyou.de

ABOUT YOU is a German online retailer for clothing, footwear and accessories. The company is based in Hamburg. Its assortment consists of more than 100,000 products from over 800 brands.

Established in June 2013 as a subsidiary of the Otto Group, the online retailer now employs more than 400 people from 25 different countries.[1] The online store of the same name has been working closely with influencers since its launch in May 2014 and lists personalization as well as inspiration among its key features. ABOUT YOU is also active in Austria, Switzerland, the Netherlands and Belgium. In addition to external brands, the e-tailer sells own brands such as the fashion label EDITED through its online shop edited.de and six stores in Germany, Austria and the Netherlands.

The company also organizes the ABOUT YOU Awards. This award show for influencers was first held in Hamburg in May 2017, attracting more than three million viewers via social media.[2]

History

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Headquartered in Hamburg, the fashion- and technology firm ABOUT YOU has been operating in Germany since 5 May 2014. The online store was the result of the Collins e-commerce project initiated by the Otto Group and the current management team in June 2013 with the aim of developing online shops for the digital generation. The Group invested hundreds of millions of euros in the initiative. [3] Entrepreneur Benjamin Otto, founders and digital experts Tarek Müller and Sebastian Betz, and the former Roland Berger strategist Hannes Wiese made up the start-up’s management team. [4]

When the Otto Group set up the Collins project, it took over the digital agencies NetImpact Framework GmbH and Creative-Task GmbH – both established by Müller and Betz – with a combined workforce of approximately 100 people. All of the founders continue to hold shares in the firm alongside the Otto Group.[5]

In April 2015, Benjamin Otto announced taking over the role of Managing Partner at the Otto Group as of 1 June 2015 and become a member of the advisory board at ABOUT YOU instead of serving as an executive.[6]

ABOUT YOU was launched in Austria and Switzerland in September 2015.[7]

One year later, in September 2016, SevenVentures and German Media Pool acquired a minority stake in ABOUT YOU. [8]Three years after the online platform was founded, the Hamburg-based company was valued at €320 million by investors.[9] [10]The Otto Group still holds the majority share in ABOUT YOU via Collins GmbH & Co. KG. [11] 

Company figures indicate that ABOUT YOU generated sales of €135 million in the 2016/2017 financial year.[12] According to the firm, this makes the online store with over three million customers one of the six largest in Germany. It is also among the fastest-growing e-commerce businesses in Europe.[13]

The ABOUT YOU Awards were presented to Germany’s leading and most authentic influencers for the first time on 5 May 2017. Approximately 250 guests attended the event at Hamburg’s Mehr! theatre, which was streamed live via social media for six hours, attracting around three million viewers.[14]

ABOUT YOU has been active in the Netherlands and Belgium since the beginning of October 2017.[15]

On 17 October 2017, the Otto Group announced that it was looking for new investors for ABOUT YOU in a second round of funding with the aim of accelerating the start-up’s Europe-wide growth. [16]The Group said it was willing to accept another investor with experience of the capital market as part of a capital increase, but that it wanted to remain the largest shareholder.[17] According to information from financial circles, the investment bank Goldman Sachs has been charged with identifying potential investors[18]. In addition to external partners, Otto shareholder Benjamin Otto intends to personally acquire a stake of around 5 per cent in ABOUT YOU.[19]

Awards

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ABOUT YOU was named ‘Start-up of the year 2014’ by the industry blog Exciting Commerce. [20]In 2015, the company won the German retail prize in the ‘Innovation’ category.[21] In the same year, Internet World Business presented the e-tailer with its ‘Business Shop Award 2015’ in the categories ‘Best online-only retailer’ and ‘Best in show’. [22]The firm was named ‘Best online-only retailer’ again in 2017.[23] ABOUT YOU took first place in the cross-industry league table for ‘Best customer experience’ at the Retail Technology Awards Europe (RETA) organised by the EHI Retail Institute.[24]

Features

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ABOUT YOU personalizes its offering and displays an individually curated product selection based on the user’s previous purchasing history. One of its distinguishing features is its close collaboration with influencers – which ABOUT YOU calls ‘Idols’ – who present their own outfits. Some functions, such as video stories, are only available on the mobile app. The target audience comprises men and women aged 20 to 49. The assortment consists of over 100,000 articles from more than 800 brands. In addition to external brands, the firm sells its own brands, such as the fashion label EDITED.

Influencer Marketing

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Since it went live in 2014, ABOUT YOU has been working closely with influencers – known as ‘Idols’ – and incorporating personalities from fashion, lifestyle, TV, music and sport into the brand’s communications. Lena Gercke, Stefanie Giesinger and André Schürrle are among ABOUT YOU’s well-known German Idols. The collaboration with influencers comprises various marketing activities both online and offline. For instance, in April 2017, Lena Gercke became the first Idol to present her own capsule collection exclusively available at ABOUT YOU.[25] Within the online store, the influencers act as style icons and showcase their favourite outfits from ABOUT YOU’s product range. [26]

The ABOUT YOU Awards were presented to Germany’s leading and most authentic influencers for the first time on 5 May 2017. Winners included Caro Daur (Idol of the Year), Toni Mahfud (Lifestyle), Lena Gercke (Fashion), Farina Opoku (Beauty), Louisa Dellert (Fitness) and Anouschka Stuck (Upcoming). [27]Approximately 250 guests attended the event at Hamburg’s Mehr! theatre, which was streamed live via social media for six hours, attracting around three million viewers.[28]

As the company expands throughout Europe, new influencers are regularly being recruited, such as the Dutch footballer Gregory van der Wiel.[29]

[edit]

References

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  1. ^ "About Us: Unser Team". ABOUT YOU (in German). Retrieved 2018-04-05.
  2. ^ Schnitzspahn, Charlotte (25 May 2017). "Empfehlungen sind unser Wachstumsmotor". Textilwirtschaft. 21: 22–33 – via Deutscher Fachverlag GmbH.
  3. ^ Hamburg, Hamburger Abendblatt -. "Otto Group lüftet Geheimnis um Millionenprojekt "Collins"" (in German). Retrieved 2018-04-05.
  4. ^ "Handelsregisterportal".
  5. ^ "Handelsregisterportal".
  6. ^ "Projekt Collins: Benjamin Otto verabschiedet sich als CEO - neuhandeln.de - E-Commerce für Entscheider". neuhandeln.de - E-Commerce für Entscheider (in German). 2015-04-20. Retrieved 2018-04-05.
  7. ^ "About You-Chef Tarek Müller: "Bei Mode sind wir besser als Zalando oder Amazon"" (in German). Retrieved 2018-04-05.
  8. ^ "About You-Chef Tarek Müller: "Bei Mode sind wir besser als Zalando oder Amazon"" (in German). Retrieved 2018-04-05.
  9. ^ "Otto-Gruppe: Die geheimen Investoren von "About You"" (in German). Retrieved 2018-04-05.
  10. ^ "Der Zalando-Herausforderer". Gründerszene Magazin (in German). 2016-12-23. Retrieved 2018-04-05.
  11. ^ "Fokus auf Wachstum: ABOUT YOU gewinnt SevenVentures und Media-Investor German Media Pool als Investoren - ABOUT YOU". ABOUT YOU (in German). 2016-09-01. Retrieved 2018-04-05.
  12. ^ Verkaufen, Werben &. "Onlinehändler About You peilt Milliarden-Umsatz an | W&V" (in German). Retrieved 2018-04-05.
  13. ^ Mikuteit, Hanna-Lotte. "Ottos Onlineportal About You revolutioniert den Modemarkt" (in German). Retrieved 2018-04-05.
  14. ^ "E-Commerce: About You: Expansion in Europa". www.textilwirtschaft.de. Retrieved 2018-04-05.
  15. ^ "Finanzierungsrunde: Otto sucht neue Investoren für About You". lebensmittelzeitung.net. Retrieved 2018-04-05.
  16. ^ "Otto sucht Geld für About You". Gründerszene Magazin (in German). 2017-10-18. Retrieved 2018-04-05.
  17. ^ "Otto sucht Geldgeber für sein Mode-Start-up About You". Die Presse (in German). Retrieved 2018-04-05.
  18. ^ Hielscher, Hielscher (17 October 2017). "OTTOS MODE-START-UP: Neue Finanzierungsrunde für About You". WirtschaftsWoche.
  19. ^ "About You ist das Exciting Commerce Startup des Jahres 2014". Exciting Commerce (in German). 2014-12-29. Retrieved 2018-04-05.
  20. ^ "About You ist das Exciting Commerce Startup des Jahres 2014". Exciting Commerce (in German). 2014-12-29. Retrieved 2018-04-05.
  21. ^ Business, INTERNET WORLD. "Shop-Award 2015: And the winner is... Aboutyou". INTERNET WORLD Business (in German). Retrieved 2018-04-05. {{cite news}}: |last= has generic name (help)
  22. ^ Business, INTERNET WORLD. "Shop-Award 2017: Das sind die Finalisten". INTERNET WORLD Business (in German). Retrieved 2018-04-05. {{cite news}}: |last= has generic name (help)
  23. ^ Business, INTERNET WORLD. "Shop-Award 2017: Das sind die Finalisten". INTERNET WORLD Business (in German). Retrieved 2018-04-05. {{cite news}}: |last= has generic name (help)
  24. ^ Institute, EHI Retail. "Preisträger 2017 - retail technology awards europe - EHI Retail Institute". www.reta-europe.com (in German). Retrieved 2018-04-05.
  25. ^ Fengler, Vera. "Heidi Klums erstes Topmodel entwirft Kleider für 59 Euro" (in German). Retrieved 2018-04-05.
  26. ^ Verkaufen, Werben &. "Sechs Gründe für den Erfolg von About You | W&V" (in German). Retrieved 2018-04-05.
  27. ^ "Happy Birthday ABOUT YOU! - ABOUT YOU". ABOUT YOU (in German). 2017-05-05. Retrieved 2018-04-05.
  28. ^ ABOUT YOU (2017-05-04), ABOUT YOU Awards 2017 - jetzt via Livestream dabei sein! #AboutYouDe #AYA, retrieved 2018-04-05
  29. ^ "Gregory van der Wiel Outfits". www.aboutyou.de (in German). Retrieved 2018-04-05.


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