European online fashion platform ABOUT YOU Holding SE reported significant year-on-year revenue and customer growth for FY 2021/2022, which ended on 28th February, 2022, and announced its guidance for FY 2022/2023.
“Fuelled by our relentless focus on growth initiatives in FY 2021/2022, we are well-prepared to further withstand the unsettled market dynamics. Already off to a strong start in FY 2022/2023, continued investments in ABOUT YOU’s Commerce and B2B businesses will help us on our path towards sustained growth and improved profitability. We are confident about our outlook for the current financial year and can reaffirm our mid-term ambition to hit break-even at Group level in FY 2023/2024,” said Tarek Müller, Co-Founder and Co-CEO of ABOUT YOU.
The Group achieved year-on-year growth of 48.5 percent to EUR 1,731.6 million (USD 1.857 billion) in FY 2021/2022. The Company will continue to invest in its four strategic growth levers in FY 2022/2023, with the goals of improving customer experience and optimizing the selection in the ABOUT YOU online shop, expanding the Company’s foreign footprint, and scaling its B2B business.
ABOUT YOU has upgraded the smooth and inspirational customer experience with forward-thinking product features, such as a live shopping feature released in September 2021, to become a fashion destination for the digital-native Gen Y & Z. In FY 2022/2023, the company will continue to develop brand interaction across platforms, including the Metaverse via digital fashion platform HYPEWEAR, which was announced in April 2022, and physical events, such as the ABOUT YOU Awards, which will take place at the end of May 2022.
With the addition of new brands including Weekday, Monki, and Furla, ABOUT YOU’s product range has increased to over 500,000 items from over 3,500 brands as of February 28, 2022, boosting sales and customer growth. From 8.4 million active clients a year ago, the number of active customers increased by 34.8 percent to 11.4 million. The average order value increased to EUR 57.8 (USD 62.01).
In FY 2021/2022, the Company increased its worldwide footprint by investing in the Southern European and Nordic regions, as well as its European distribution network. This year, ABOUT YOU attracted over 1.5 million active users and produced over EUR 100 million (USD 107 million) in sales in Southern Europe and the Nordics alone, where it began operations in Greece, Portugal, and Norway. ABOUT YOU built a second distribution hub in Slovakia in 2021 to meet rising demand, with plans to expand its logistics network with two more hubs in Poland and France by 2023. Since December 2021, ABOUT YOU has offered worldwide shipping to over 100 countries within and outside of Europe via its Global Shipping Platform.