German online fashion unicorn reaches EUR 100 mln sales in first year on Romanian market

German online fashion retailer About You has sold more than 3 million items to over 600,000 customers in the first year since its launch on the Romanian market. Its local revenues thus reached over EUR 100 million.

For comparison, Swedish group H&M, the biggest (brand) fashion retailer on the local market, had sales of just over RON 1 bln (EUR 208 mln) in Romania in 2019, according to public data.

For the future, About You plans to increase its activities in service, marketing and assortment to become market leader.

“We’re very happy that the first year was so successful. We definitely see much potential for the future and aim to become clear market leader for online fashion on the Romanian market. We will continue to adapt our shop to local preferences, expand the assortment, further increase the service level and continue to innovate with new features, local events and collaborations,” said Tarek Müller, co-founder and co-CEO of About You.

In the past 12 months, the retailer expanded its offering for the Romanian market by increasing the number of brands available in the country from 600 to almost 800. In the future, About You to become less dependent on classic advertising and existing marketing channels by focusing more on direct channels for customer communication and creating real emotions with interactive brand experiences, such as new social media formats.

Hamburg-based About You is an online retail unicorn, with a valuation of over USD 1 billion. The platform is currently available in 16 European markets. In 2019/20, the retailers generated a turnover of EUR 742 million, which corresponds to an annual transaction volume of over EUR 2.5 billion.

About You’s biggest competitors in Romania include Fashion Days, which is part of eMAG group, and Polish retailer Answear.

(Photo source: the company)