Billion dollar valuation after only 4 years
New business fields
Etribes’ predecessor NetImpact had already been working with the Otto Group for a long time in various functions. In 2013, Otto faced the challenge of gaining new market share in B2C e-commerce, which was to be solved with Etribes. In addition to establishing new digital sales channels, the goal was also to generate new revenues through a younger target group. This resulted in the fashion platform About You.
Becoming the most relevant e-commerce player
In cooperation with Etribes, the About You founding team around Etribes co-founder Tarek Müller evaluated various B2C business models and designed the Collins project. In 2014, the company About You emerged from this project, which was comprehensively supported by Etribes in the initial phase. Through a major investment by the Otto Group and the development outside the existing structures, the company was able to scale up to one of the most relevant e-commerce players in Europe within a very short time. Tarek Müller is Co-CEO of the company and heads the Marketing & Brands departments.
Billion dollar valuation after 4 years
In the 2019/2020 fiscal year About You achieved sales of €739 million. The company is already profitable in the DACH region and in 2018 achieved a company valuation of over one billion euros. In addition, About You is not only active in 14 countries, but is also Europe’s fastest growing online store and contributes a three-digit annual turnover for the Otto Group.
"We are very proud to have laid the foundation for one of the most successful & promising e-commerce business models today."
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