HEARTLAND invests in About You
HEARTLAND – the holding company behind BESTSELLER – has decided to invest in German e-commerce company ABOUT YOU.
HEARTLAND’s investment, which secures a double-digit percentage stake in ABOUT YOU, will play a critical role in the next stage of development of the Hamburg-based company, with plans to double its current workforce of 450 over the next three years.
Lise Kaae, CEO of HEARTLAND: “We have followed ABOUT YOU closely over the past few years, and we see a company with sound leadership and solid potential. The current management team has done a great job, and we are confident that they can develop the company even further.”
ABOUT YOU, which was founded in 2013 by German trio Tarek Müller, Sebastian Betz and Hannes Wiese, is one of Europe’s fastest-growing online fashion retailers with 1.5 million active users with access to over 800 brands.
“We are delighted that HEARTLAND has come on board and appreciate the confidence they have shown in us,” Tarek says.
“This investment gives us every opportunity to build our customer base even faster, gain greater market share and enter new markets rapidly.”
The planned investment by HEARTLAND in ABOUT YOU is subject to formal approval by the respective authorities.