Zalando acquires About You and declares war on Chinese e-commerce giants

Zalando announced the acquisition of About You, one of its main competitors in the European e-commerce market, in a EUR 1.1 billion deal. Aiming to strengthen its position in online commerce, the German e-commerce platform is looking to cover a larger slice of the fashion and lifestyle market. Founded in 2008 in Berlin, Zalando has grown to serve over 50 million customers across Europe