The best-known of the three managing directors of About You is Tarek Müller. About You
The online fashion retailer About You surprisingly managed to generate an operating profit in the first quarter of 2023 after the company made a loss of around 29 million euros last year. Founder Tarek Müller announced in an interview with Gründerszene that he wanted to achieve “double-digit growth rates” in sales with the company again in 2024. For 2023, the company initially assumes growth of between one and eleven percent.
Last year, 2022, About You managed to increase sales by ten percent compared to the previous year, although the financial year was otherwise comparatively bad for the online retailer.
At that time, the profit was “well below our own expectations”, according to the last full-year report. Nevertheless, About You managed to attract more customers than Otto.de. However, this success was also based on a not inconsiderable marketing budget. This was significantly reduced in the first quarter, with around 50 million euros, About You spent from January to March only around half as much money for customer acquisition as in the corresponding period of the previous year. With stagnating sales revenues of around half a billion euros, these savings made an important contribution to the turnaround.