Berlin Fashion Week Wraps Up

Spark Trader Limited reports:

Berlin Fashion Week came to a close on Sunday after six days of shows and events, both real and virtual.

Among the highlights was the highly publicized walk of Leni Klum, Heidi Klum’s 17-year-old daughter, for the German online retailer About You, And other real-world shows from brands like William Fan and Fassbender.

In addition to Fashion shows and brand events, the Berlin Fashion Summit is hosted by Fashion Council Germany. Christiane Arp, the former editor of German Vogue, is chairman.

This year, Berlin Fashion Week’s official schedule includes the previously separate Reference Festival, which combines fashion, art, music performances and installations.

About You, a German fashion e-retailer, is widely reported to be preparing to list in Frankfurt. On Wednesday, the company said revenue topped 1 billion euros ($1.2 billion) last year after launching products in more than a dozen European markets.

Revenue rose 57 percent to 1.17 billion euros in the year to February, and the company posted earnings before interest, tax, depreciation and amortization last quarter, its first profit since it was founded in 2014.

While the COVID-19 pandemic has prompted more shoppers to shop online, About You co-founder Tarek Mueller says the decline in social interaction has led consumers, especially the younger generation, to spend less on clothing.

Still, “we managed to grow massively,” he said. “We seized the opportunity in the crisis.”

The Hamburg-based group’s revenues in Europe outside Germany, Austria and Switzerland more than doubled to €464m, with operations in 13 countries including Estonia and Ireland.

It is also developing an enterprise product that will enable retailers and brands to build and operate their own online stores to compete with e-commerce solutions from established players SAP and Salesforce.

Last year, that segment’s business-to-business sales grew 61 percent.

Miller declined to comment on reports that the company plans to list on the Frankfurt stock Exchange. The exchange, which includes telecom company Vantage Towers and used car trading platform AUTO1, has been busy this spring.

You’s main owners are Otto, the mail-order group, and Heartland, the investment vehicle of Anders Holch Povlsen, the Danish tycoon, which has previously invested in consumer stocks such as Zalando, Asos and Klarna.

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Reprint indicated source:Spark Global Limited information