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DGAP-News: ABOUT YOU Holding SE / Key word(s): Sustainability
In its second ESG report, ABOUT YOU Holding SE presents important milestones as well as current challenges and objectives to comply with its responsibility as a global fashion e-commerce company and to integrate sustainability into all relevant, material levels of corporate decision-making. Last year's ESG pillars - Planet and People - have been expanded this year: the new Progress pillar discloses strategies and internal structures to provide other companies with insights and a blueprint to achieve a more sustainable future in the entire fashion industry.
In May 2021, ABOUT YOU published its first Responsibility Report to provide its contribution as a fast-growing e-commerce company to a sustainable fashion industry. Today, the company presents the initiatives of its ESG Report for FY 2021/2022: These include the pillars "Planet" - the transformation to measurable positive impacts on the environment through, among others, the increase of the more sustainable assortment as well as the development of circular business models, "People" - the management of social risks along the value chain guided by a framework for the ESG Due Diligence and the preservation of an inclusive work environment, and "Progress" - the transparency of internal structures, measures, and concepts to make the fashion world more sustainable.
In the past twelve months, ABOUT YOU has holistically analysed the material challenges and reported further progress for FY 2021/2022. For example, the proportion of net revenue of more sustainable products on the platform has been increased to 21.8%, policies - such as the Business Code of Conduct - have been updated, a high partner participation on key issues - such as transparency about production sites (Tier-1: 100.0%; Tier-2: 64.1%) of own label products - has been achieved, and Scope 1 and 2 greenhouse gas emissions have been reduced by 52.8% compared to the 2019/2020 base year. In addition, organisational development has focussed on integrating ESG topics into business decision-making at all levels; an ongoing process, which will be continued. The areas corporate governance, risk management, and strategy have already been aligned successfully. Furthermore, sustainability competencies have been included in the decision-making levels of the business divisions: so-called "Sustainability Leads" operate in key business units such as Buying, Own Labels, and Logistics to reduce frictional losses and accelerate change.
As a new addition this year, the "Progress" pillar - it makes internal structures, measures, and concepts transparent and, thus, also provides other companies with a blueprint. The company aims to create a measurable positive impact beyond its very own fast-growing business. This means that every own label product purchased by ABOUT YOU should be as sustainable as possible; every new business partnership built by the company should be in line with ABOUT YOU's set goals; and every new warehouse should produce minimal greenhouse gas emissions.
"An important success factor for the implementation of our ESG strategy are our trusting and transparent partnerships with fashion brands, suppliers, logistics partners, and market peers. Only through shared values and approaches, we can achieve tangible progress with our sustainability issues," says Hannes Wiese, Co-Founder and Co-CEO of ABOUT YOU.
As one of Europe’s fastest-growing online fashion platforms of scale, ABOUT YOU will continue to intensify its efforts to drive positive change together with its partners and live up to its responsibility towards the planet and society.
The full ESG Report 2021/2022 can be found at
31.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
ABOUT YOU Holding SE
+49 40 638 569 – 0
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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