Zalando, the major DAX-listed online retailer, has announced its intention to acquire rival About You in a deal valued at over €1 billion. The acquisition will enable Zalando to provide enhanced services in the European fashion e-commerce sector. Major shareholders of About You, including Otto Group and its founders, have agreed to sell their shares at a premium. The move is expected to generate an additional operational profit of €100 million per year, particularly through synergies in their enterprise customer divisions.