DGAP-News: ABOUT YOU Holding AG / Key word(s): IPO
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT DISCLAIMER AT THE END OF THIS RELEASE.
ABOUT YOU plans Frankfurt Stock Exchange listing in Q2 2021
Hamburg, 27 May 2021 - ABOUT YOU Holding AG ("ABOUT YOU") today announced its intention to list its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. An accompanying private placement to institutional investors in Germany and in certain other countries is expected to comprise newly issued shares from a capital increase and a secondary component from existing shareholders, which include GfH (Gesellschaft für Handelsbeteiligungen mbH), management and other minority shareholders, as well as shares in connection with possible over-allotments (the "Private Placement"), covered by a greenshoe option provided by Otto (GmbH & Co KG). The planned Private Placement and the first day of trading are expected in the second quarter of 2021, subject to market conditions. ABOUT YOU aims to raise at least €600 million in gross proceeds from the Private Placement, the largest share of which it intends to invest in scaling its commerce operations internationally, accelerating the roll-out of its SaaS business in its technology, media and enabling (TME) segment, and in its tech infrastructure and distribution centers.
Tarek Müller, co-founder and member of the management board responsible for Marketing & Brand: "Today's announcement marks an exciting step toward realizing our vision of becoming the leading global fashion platform. We have gone from strength to strength since founding ABOUT YOU seven years ago, having established one of the largest European fashion offerings for Generation Y&Z. But this is just the beginning. Fashion e-commerce will become even more digital, mobile, personalized and inspirational in the years to come, and we are in a strong position to lead this transformation. The planned stock market listing will help us seize this unique opportunity by building on our best-in-class technology and software solutions aimed at digitizing the offline shopping stroll."
Large opportunity in c. €400bn European fashion market, accelerated by offline to online shift
ABOUT YOU provides the most inspiring and personalized shopping experience to digital natives, who demonstrate a high affinity for social media, digital marketing and branding, and who often impulse buy their fashion purchases. ABOUT YOU believes this is a highly attractive demographic as online fashion growth will continue to be driven by offline discovery shopping increasingly moving online, fuelled by underlying increasing smartphone and social media usage. Since its foundation, ABOUT YOU has invested heavily into its digital capabilities to target this opportunity, resulting in over 26 million downloads of its state-of-the art app since 2015, giving it a top 3 ranking among iOS apps in the shopping category in the German iOS App Store.
ABOUT YOU's integrated, AI-driven platform, represents the ideal e-commerce offering for this cohort, which is attracted by the company's unparalleled network of cooperations, comprising more than 10,000 influencers, its curated assortment of individual brands, inspiring presentation, superior personalization and creative content. This has made ABOUT YOU the preferred destination for Generation Y&Z.
Superior economics driving strong growth across all segments
More than half of group net revenues (FY 2020/21: €660m) are currently generated in the company's core DACH segment, which grew 29% YoY with an adjusted EBITDA margin of 6% in FY 2020/21. ABOUT YOU's Rest of Europe segment further strengthened its footprint through 13 new market launches in the past financial year alone, as well as strong ongoing growth in existing international markets, resulting in growth of 145% YoY to €464m net revenues. At the same time, the segment also improved its adjusted EBITDA margin to (18%) in FY 2020/21 from (29%) a year earlier.
ABOUT YOU's TME segment, which comprises the ABOUT YOU Commerce Suite, is also a crucial contributor to the company's continued strong growth and adjusted EBITDA improvement. TME net revenues grew 61% YoY to €84m in FY 2020/21, and the segment turned profitable with a full-year adjusted EBITDA margin of 12%. A key driver of this growth and profitability was the ABOUT YOU Commerce Suite, which offers the company's full technological platform as a white-label solution for brands' and retailers' own digital channels. More than 60 external shops are live on the ABOUT YOU Commerce Suite as of March 2021, where they benefit from the full breadth and scale of ABOUT YOU's proprietary tech innovations that can help them achieve lower costs and greater speed.
Proprietary tech platform and mobile-first approach based on a hybrid business model
To meet changing consumer demand, ABOUT YOU's hybrid business model combines the seamless integration of own inventory (1P) and third-party stock (3P), offering over 400,000 products from over 2,000 brands with an asset-light fulfilment infrastructure. ABOUT YOU is the partner of choice for Europe's leading fashion brands, offering businesses the opportunities to sell at scale through 1P, and to test and grow new products and brands under 3P. Partners benefit from a tailored, end-to-end e-commerce solution in one digital ecosystem, the latest product and technology innovations, and unprecedented access to a broad, loyal, and growing young customer base, with more than 30m monthly active users. Customers benefit from an intuitive and personalized shopping experience, user-friendly interfaces, and a seamless website and app experience geared towards technology-enabled, mobile shopping.
Proven go-to-market playbook for continued expansion
A leading platform for more sustainable fashion
Deutsche Bank, Goldman Sachs, and J.P. Morgan are acting as Joint Global Coordinators and Joint Bookrunners, with Numis Securities, Société Générale and UBS Investment Bank also acting as Joint Bookrunners. Lilja & Co. is the independent advisor to Otto Group, its affiliates and ABOUT YOU. MW&L Capital Partners are the financial advisers to Heartland A/S.
Knut Engelmann | Kekst CNC
Investor Relations contact
In member states of the European Economic Area and the United Kingdom, any offering mentioned in this publication will only be addressed to and directed at persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129, in the case of the United Kingdom, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. In addition, in the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.), or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by ABOUT YOU that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither ABOUT YOU nor Deutsche Bank AG, Goldman Sachs Bank Europe SE, J.P. Morgan AG, Numis Securities Ltd, Société Générale and UBS Europe SE (together, the "Underwriters") nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.
The Underwriters are acting exclusively for ABOUT YOU and the selling shareholders and no-one else in connection with the planned Private Placement. They will not regard any other person as their respective clients in relation to the planned Private Placement and will not be responsible to anyone other than ABOUT YOU and the selling shareholders for providing the protections afforded to its clients, nor for providing advice in relation to the offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.
In connection with the planned Private Placement, the Underwriters and their respective affiliates may take up a portion of the shares offered in the Private Placement as a principal position and in that capacity may retain, purchase, sell, offer to sell for their own accounts such shares and other securities of ABOUT YOU or related investments in connection with the planned Private Placement or otherwise. In addition, the Underwriters and their respective affiliates may enter into financing arrangements (including swaps or contracts for differences) with investors in connection with which the Underwriters and their respective affiliates may from time to time acquire, hold or dispose of shares of ABOUT YOU. The Underwriters do not intend to disclose the extent of any such investment or transactions, other than in accordance with any legal or regulatory obligations to do so.
None of the Underwriters or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this release (or whether any information has been omitted from the release) or any other information relating to ABOUT YOU, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this release or its contents or otherwise arising in connection therewith.
THIS DOCUMENT IS NOT A PROSPECTUS BUT AN ADVERTISEMENT AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN THIS ADVERTISEMENT EXCEPT ON THE BASIS OF THE INFORMATION CONTAINED IN THE PROSPECTUS.
27.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
ABOUT YOU Holding AG
+49 40 638 569 - 0
EQS News ID:
End of News
DGAP News Service