About You is profitable for first time in fiscal 2023-24

German fashion e-tailer About You has reported a €3.2 million profit for its non-standard financial year that closed at the end of February 2024. A significant milestone for the Hamburg-based site founded in 2014, whose revenue in the period remained stable at €1.9 billion, equivalent to a 1.6% increase.

“Following 10 years of innovation and investment, this illustrates how a founder-led business model can achieve a good balance between margin expansion and growth,” said co-CEO and co-founder Tarek Müller. “We are not just waiting for a faster shift from offline to online retail and brighter market conditions. Instead, our team is determined to position About You and Scayle as profitable growth businesses – not only for the current financial year, but for the long term,” he added.

After a tough fiscal 2022-23, the About You group said the site numbered 12.3 million active customers in 2023-24, generating 37.8 million orders in the year. Average order frequency was on par with the previous year, at 3.1 orders, while average order value grew by 5.8% to €58.

Revenue remained stable in the Dach region (Germany, Austria and Switzerland) at €916.7 million, while it grew by 2.8% in the rest of Europe, to €925.9 million. In 2023-24, the group’s B2B unit, included in the Tech, Media and Enabling (TME) segment, reported a revenue of €188.9 million, down 3.2%.

Last August, the group spun off as a separate entity the Scayle unit, a subsidiary that specialises in digital solutions to help brands develop their e-tail business. About You said that Scayle’s solutions are currently exploited by 200 e-tailers, generating an external transaction volume of €3.8 billion, and is setting its sights on North America to fast-track its expansion.

About You is currently active in around 100 markets, and commercialises tailored product selections in 28 European countries. For fiscal 2024-25, the group is forecasting a growth rate between 1% and 10%, and is notably expecting EBITDA to jump, growing from €10 million to €30 million.