Venture Building Excellence: A unicorn for the Otto Group
Develop a new digital business model for the Otto Group
How Etribes built up the billion-dollar retailer ABOUT YOU for the Otto Group
With Etribes, the Otto Group has obtained external support to generate higher digital sales and access to the young target group for the Group. Our approach is corporate venture building. After we have designed and tested a number of new business models, one has prevailed sustainably: The Internet retailer ABOUT YOU, which is now valued at billions of euros. After just 4 years, the startup achieved unicorn status, went public as a result and is now one of the most important fashion platforms in the world.
Starting point: “Get us on the Internet, Mr. Hillebrand!”
Hamburg-based retail giant Otto is facing a massive challenge at the turn of the millennium. Because although online retail is still in its infancy, individual players such as Amazon and eBay are picking up steam more and more. At the same time, future trade giants are being born at this time, such as the Chinese Alibaba. This new generation of retailers is skipping the traditional retail store and the traditional catalog. They sell online first and have a lasting impact on the expectations and user behavior of end customers.
Even the Otto Group cannot and does not want to avoid this development. Michael Otto, then CEO of the family company, says a momentous sentence about his youngest manager: “Get us on the Internet, Mr. Hillebrand.” Rainer Hillebrand, who will later become the company's CDO, then embarks on the Otto Group's incredible digitization journey. Etribes was also able to contribute to this by supporting the conception of the initial business model and the process leading to the founding of ABOUT YOU.
Let yourself be inspired by the ABOUT YOU success story
inspire and start your own path to digital success
“Together with Etribes, we have laid the foundation for one of the most successful and promising e-commerce business models: ABOUT YOU.”
Tarek Müller
From startup to IPO
These approaches have helped ABOUT YOU achieve billions in sales
personalization
ABOUT YOU has made personalization a central part of its strategy and uses data-driven algorithms to provide customers with personalized product suggestions based on their previous purchases and preferences. This approach results in high customer loyalty, a tendency to lower marketing costs and higher conversion rates.
Social First
ABOUT YOU's “Social First” concept has significantly contributed to its growth. By focusing on social media and influencer marketing, AboutYou was able to build a large and engaged audience. The platform uses user-generated content to provide customers with an authentic shopping experience.
Mobile First
ABOUT YOU recognized back in 2014 that mobile devices would be the preferred channel for online shopping. That's why the entire e-commerce strategy was focused on mobile devices to ensure that customers can access the app anytime, anywhere, find inspiration, compare themselves with their idols, and make purchases.
With practical experience from founding start-ups, managing companies and more than 250 digital projects, we know how to master digital transformation.
