ABOUT YOU, one of Europe’s fastest growing online fashion stores of scale, today announced a positive adjusted EBITDA in Q1 2023/2024, achieving profitability earlier than anticipated. Despite challenging market conditions, ABOUT YOU has made significant strides in enhancing profitability and efficiency while simultaneously bolstering revenue, customer base, and orders. The company remains on track to meet its full-year guidance for continued profitable growth.
Founded in 2014, ABOUT YOU revolutionizes the traditional shopping experience by offering a personalized and inspirational platform accessible via smartphones. Boasting over 600,000 products from approximately 3,800 brands, the online retailer caters to more than 45 million unique active users monthly, making it one of Europe’s largest online fashion destinations.
Tarek Müller, Co-Founder and Co-CEO of ABOUT YOU, expressed enthusiasm over the company’s performance in Q1, stating, We managed to achieve break-even ahead of schedule despite the challenging market environment. Early strategic and operational initiatives have enhanced our inventory management, logistics, and marketing efforts, yielding tangible results that set the stage for sustained profitable growth in the future.
During Q1, ABOUT YOU reported an adjusted EBITDA of €4.2 million with a margin of 0.8%, reflecting a substantial improvement from the previous year. The company’s free cash flow also surged to €10.8 million, primarily attributed to the enhanced EBITDA performance.
With revenues reaching €504.1 million in Q1 and 39.6 million orders from 12.8 million active customers over the past year, ABOUT YOU remains focused on achieving adjusted EBITDA break-even in FY 2023/2024. Since going public in 2021, the Hamburg-based e-commerce powerhouse continues to exhibit strong growth, underscoring its resilience in the face of market challenges.
