Online fashion retailer About You starts on the stock exchange
Status: 16.06.2021 3:14 p.m.
The online fashion retailer About You, an offshoot of the traditional mail order company Otto, has gone public. Business is doing brilliantly in the pandemic – more Internet retailers will follow. From Victor Gojdka, ARD stock exchange studio When a fashion retailer goes public, the traders on the trading floor also pay attention to the right thread. Blue suit, polished shoes – tie fits. You can start trading with the fashion retailer About You. Serhad Gündogan from Baader Bank announced the first price: 25.60 euros. A good start for the online fashion retailer who ships almost everything from jackets, pants, jeans to low shoes. It generated more than a billion in sales in the past fiscal year. With a very special target group, says financial expert Volker Brühl from the Center for Financial Studies: “Above all, very young people who are very internet-savvy and naturally use their smartphones to go shopping. And that is what sets About You apart from Zalando. ”
About You IPO With young fashion on the floor The Otto Group is planning the IPO of its subsidiary About You.
Money for international growth
The IPO brought the company around 650 million euros into the cash register. And the company leaders already have ideas of what they want to do with this money, says stock exchange expert Brühl. “You currently have around one billion euros in sales. That is still comparatively little – and that is why you have to invest heavily in international expansion. In marketing too, of course, which also costs money.” Stock exchange expert Robert Halver from Baader Bank is also on the floor today. Baader Bank took care of the IPO behind the scenes – and Halver himself likes to order online: “I’m an avid clothes buyer on the Internet, so I hate going into stores.” It is true that not everything always fits when you buy clothes online. “But I prefer that to having to stand in a row. That’s the worst thing there is for me.”
Growth in corona crisis Boom for Zalando thanks to the online boom The trend towards online shopping continues in the Corona crisis and brings growth and increasing profits to the fashion retailer Zalando.
More and more customers are shopping online
According to Halver, he personally did not suffer from Corona and the closure of the retail trade. And investors are also hoping for this sales boom with Corona. About You shares have now climbed to as much as 26.80 euros. And other online retailers such as Bike24 or the glasses mail order company Mr. Spex also want to go to the floor. A real boom in IPOs, says Halver. “The mood on the stock exchange is good.” And when the mood on the stock exchange is good, companies are inclined – if they were toying with the idea of going public anyway – to take advantage of this good mood. “Who goes public when we have a crash? Nobody does that. But no one knows whether the online boom will continue after the corona easing. The boom in IPOs in Frankfurt: it harbors risks for investors.
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