Hamburg-News-media-it-creative-industries-innovation-future-business
Collins - © Otto Group

About You gains broadcasters ProSiebenSat.1 as investor

Otto-Group-Startup Collins: About You has grown rapidly since it was founded in 2014

The e-commerce start-up Collins has obtained SevenVentures, the media investing arm of ProSiebenSat.1, and German Media Pool’s media partner RTL II, as investors from September 1 in addition to Klambt media and other radio and TV channels in Germany and Switzerland. The Otto Group has a majority share in About You via the Holding Collins, Collins announced Thursday (September 1st) bringing the value of the start-up to EUR 300 million.

Brand awareness soars to over 50 per cent

Hannes Wiese, co-founder and manager of About You with responsibility for Operations & Finance, said: “We are very proud that such reputable investors are convinced by the success of About You. The new partnership with leading European media companies will further drive the scaling of the business operations. Admitting more investors depending on their strategic added value is quite conceivable for us.”

About You has grown rapidly since it was founded in 2014. The shop has an alleged 1 million active customers and brand awareness of over 50 per cent. The company said it had double-digit million sales in the 2015/16 fiscal year and now aims to double that sum. Collins is undertaking more business activities in Austria and Switzerland. Wiese noted: “Only very few companies have been able to achieve such a high corporate value in such a short space of time. Our aim is to increase growth significantly over the coming years.”

Suggestions for individually-tailored outfits

The online fashion shop, About You, has around 250 staff and has made a name for itself in e-commerce. The firm’s business concept caters to the individual needs of clients and targets men and women in the 20-40 age group. About You has over 100,000 articles and more than 800 brands in its range. Customers can, for instance, set up their own fashion profile and are shown products in a personal feed. About You has ben available in Austria and Switzerland since last autumn. The management team includes Tarek Müller, a digital expert and founder of several businesses, Sebastian Betz as well as Hannes Wiese, a former strategist at Roland Berger.
pb

Sources and further information:
www.corporate.aboutyou.de/presse
www.germanmediapool.com
www.sevenventures.de
www.aboutyou.de

More articles

  • There are no older articles in this category.
  • There are no newer articles in this category.