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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
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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.

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Dolce & Gabbana Evoke the Dolce Vita during Milan Fashion Week

A model presents a creation by Dolce&Gabbana during the Milan Fashion Week, in Milan, Italy, 18 January 2025. EPA/MATTEO CORNER
A model presents a creation by Dolce&Gabbana during the Milan Fashion Week, in Milan, Italy, 18 January 2025. EPA/MATTEO CORNER
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Dolce & Gabbana Evoke the Dolce Vita during Milan Fashion Week

A model presents a creation by Dolce&Gabbana during the Milan Fashion Week, in Milan, Italy, 18 January 2025. EPA/MATTEO CORNER
A model presents a creation by Dolce&Gabbana during the Milan Fashion Week, in Milan, Italy, 18 January 2025. EPA/MATTEO CORNER

To bling, or not to bling is the eternal question at Dolce & Gabbana — and the designing duo had it both ways Saturday during the Milan Fashion Week menswear preview for the next cold weather season.
The elegant show invitation in winter-neutral Burgundy — suggested an understated collection and the runway silhouette was loose and effortless. Emblazoned with the word paparazzi, there was also a hint of look-at-me flash.
Evoking the Dolce Vita Domenico Dolce and Stefano Gabbana's collection for Fall/Winter 2025 evoked the Dolce Vita of easy men’s dressing with two moods: pulled-together daytime casual and red (or make that burgundy) carpet/evening formalwear.
Denim jeans provided the clean canvas for statement outerwear: star-sized faux fur jackets, a leather bomber-trench combo and a long leopard coat. Knitwear with loose cargo pants were easy to wear, functional and contemporary. Except for a bright sequined jacket, the colors palette was timelessly and reassuringly neutral.
The essence of the daywear was distilled in a dark tank top worn with loose tweed trousers and matching cap, and a tech-bro gray T-shirt secured with double-belted trousers.
For evening or formal events, elegant suiting incorporating cummerbunds, tasseled silk scarves and wide lapels were accented with crystal brooches, all the better to glisten as two risers of paparazzi snapped from the runway.
Trend Watch Watch for high-neck faux fur dickies, fastened with silken ribbons for extra warmth and luxury. Bow ties and brooches finishing suits — because why choose? Low-soled sneakers and mid-calf biker boots finish the looks. Capacious soft bags in high-end leathers suggest someplace to go. Key fobs on belt loops, reminders of home.
Paparazzi on the Inside, Fans on the Outside Risers of flashing paparazzi set the mood inside the designers’ Metropol theater.
Outside, Lucien Laviscount sprung like a gazelle over barriers and crossed tram tracks in front of the theater to greet cheering fans after the show. The “Emily in Paris” actor wore an elegant double-breasted pinstripe suit with gold neck chains, worthy of his stylish businessman character Alfie, as he signed autographs and snapped selfies.
Just as obliging but not quite as adventurous as the track-crossing Laviscount, South Korean actor Jung Hai-in, wearing a burgundy ensemble, and Thai actor Hirunkit Changkham, in black-and-white diagonally stripped knitwear and Bermuda shorts, also waved to screaming admirers before being driven away.
Front row guests also included James McAvoy, Levi Dylan and Rocco Ritchie.