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Japanese Fashion Magnate Maezawa to Visit International Space Station

FILE PHOTO: Japanese billionaire Yusaku Maezawa poses with a space suit helmet during an interview with Reuters in Tokyo, Japan, March 3, 2021.REUTERS/Kim Kyung-Hoon
FILE PHOTO: Japanese billionaire Yusaku Maezawa poses with a space suit helmet during an interview with Reuters in Tokyo, Japan, March 3, 2021.REUTERS/Kim Kyung-Hoon
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Japanese Fashion Magnate Maezawa to Visit International Space Station

FILE PHOTO: Japanese billionaire Yusaku Maezawa poses with a space suit helmet during an interview with Reuters in Tokyo, Japan, March 3, 2021.REUTERS/Kim Kyung-Hoon
FILE PHOTO: Japanese billionaire Yusaku Maezawa poses with a space suit helmet during an interview with Reuters in Tokyo, Japan, March 3, 2021.REUTERS/Kim Kyung-Hoon

Japanese fashion magnate Yusaku Maezawa, already planning a trip around the moon, will first make a visit to the International Space Station this year, TV Tokyo reported on Thursday.

Maezawa will beginning training in Russia next month for a 12 day trip to the ISS in December travelling on a Soyuz rocket, TV Tokyo reported in a story posted to the billionaire’s Twitter account.

The entrepreneur is due to be the first private passenger on a voyage round the moon with Elon Musk’s SpaceX slated for 2023, according to Reuters.

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Fashion

E-retailer Zalando to Buy About You for $1.2 Bln

FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
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E-retailer Zalando to Buy About You for $1.2 Bln

FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa

German online retailer Zalando said on Wednesday it had struck a deal to buy rival fashion group About You for 1.1 billion euros ($1.2 billion), as part of plans to create a pan-European e-commerce platform.
The cash offer corresponds to 6.50 euros per share, a 107% premium to About You's three-month average stock price. About You's shares closed at 3.90 euros on Tuesday, Reuters reported.
Zalando's shares were down 8% at 0805 GMT, headed for their biggest daily percentage fall in two years, following news of the deal.
The proposed takeover comes as the rapid growth of low-priced fast-fashion retailer Shein has put pressure on online players across Europe that have struggled to compete on price.
"The planned two-brand strategy would significantly increase the group's presence in the pan-European markets," said About You's major shareholder, German retail group Otto.
The combined business of Zalando and About You aims to have an adjusted earnings before interest and taxes (EBIT) margin of between 10% and 13%, Zalando said in a statement.
Zalando said that Otto and an investment company controlled by Heartland A/S, as well as About You's board members, had decided to accept the offer.
Otto brought About You onto the stock exchange three and a half years ago at an issue price of 23 euros per share.