About You grows gross sales however doubles losses

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Vogue platform About You has elevated income to 1.7 billion euros in 2021. On the identical time, losses have greater than doubled in comparison with the yr earlier than. The corporate says that is due to progress investments.

German trend retailer About You, which falls below the wings of Otto Group, has launched its full-year outcomes. Early in 2021, the corporate went public. Whereas gross sales have elevated in comparison with the yr earlier than, the ecommerce participant additionally greater than doubled its losses.

Internet loss greater than doubled to €124 million

Previously yr, About You made 1,7 billion euros in income – a year-on-year progress of just about 50 %. On the identical time, web losses ended up at over 124 million euros. That’s greater than double in comparison with 2020, when losses have been practically 60 million euros.

The adjusted EBITDA got here in at -66.9 million euros.

The adjusted EBITDA got here in at -66.9 million euros. That’s on the decrease finish of About You’s predictions in March, when it launched preliminary outcomes.

Remainder of Europe closes in on residence markets

In the corporate’s press launch, About You says the losses are because of progress investments. In 2021, the model launched in Greece, Portugal and Norway. New logistics hubs have been opened in Poland and France and the corporate introduced its International Transport Platform, transport to 100 international locations the world over.

The markets outdoors of DACH grew over 65 %.

The German retailer now operates in 23 markets outdoors of the DACH-region. These markets made greater than 767 million euros in income – a rise of over 65 %. To match, the German, Austrian and Swiss markets grew round 27 % to over 839 million euros. This implies the Remainder of Europe (RoE) is rapidly closing in on the markets nearer to residence.

‘Ready to resist unsettled market dynamics’

Co-founder and Co-CEO Tarek Müller of About You says: “Fuelled by our relentless deal with progress initiatives in FY 2021/2022, we’re well-prepared to additional stand up to the unsettled market dynamics.” He later provides: “We’re assured about our outlook for the present monetary yr and might reaffirm our mid-term ambition to hit break-even at Group stage in FY 2023/2024.”

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