AlsterResearch AG Update: About You AG - Ambitious growth plans confirmed

About You Holding AG (Update)   Retail MCap EUR 3.7bn BUY PT EUR 26.50 (+21% potential)   The analyst event has plausibly underlined the individual growth levers, which is why we reiterate to BUY.   Read

What’s it all about?

On an analyst event the management of About You highlighted key parts of their equity story, underlining the individual levers of growth. The company will benefit from secular and demographic trends while driving structural growth by expanding into more markets and scaling the B2B business. In essence, these underlying factors offer enormous growth potential in the long-term. But first the company has to establish business in its newly entered markets. Against this background, the company will further ramp up its investments. The recent campaigns in Southern Europe will drive marketing spend in the next quarters. The analyst event has plausibly underlined the individual growth levers and we reiterate our BUY rating with unchanged PT of EUR 26.50, based on our DCF valuation model.