Mytheresa grows little by little. The German e-commerce company, specialized in luxury fashion, has closed the first half of its fiscal year, which ended on December 31, with net sales of 366 million euros, an increase of 6% compared to the same period in 2021. .
“We are pleased with the solid growth in the second quarter, which is driven by Mytheresa’s clear focus on true high-end luxury customers rather than casual, aspirational luxury buyers that are more likely to be negatively affected by an economic downturn.” Myhteresa CEO Michael Kliger said in a statement.
However the German e-commerce company has recorded a 30.1% reduction in adjusted ebidta, up to 30.4 million euros. The group’s losses have been reduced to red numbers of 4.2 million euros, compared to the negative figures of 5.3 million euros in the first half of the previous year.
Mytheresa expects to record sales of 800 million euros in the fiscal year ending June 30, 2023
During the semester, the German company raised its gross merchandise value (GMV) 13.7%, up to 413 million euros. In addition, throughout these months, the company has included in its platform the offer of more luxury companies such as Stella McCartney, Loro Piana, Max Mara or The Row.
Facing the end of the fiscal year of 2023, which ends on June 30, the German ecommerce company expects to register sales of 800 million euros, which would mean an increase of 16%. BesidesMytheresa expects its adjusted EBITDA to be between €68 million and €76 million.
Regarding GMV, the German luxury fashion platform plans to grow between 16% and 22% and thus register between 865 million euros and 910 million euros.
Mytheresa, which was founded in 1987, ships to more than 130 countries. The company started in the online channel in 2006 and offers ready to wearfootwear, bags, as well as accessories for women, men and children. In 2022, Mytheresa expanded its luxury offering to lifestyle and home décor products with the launch of the category life. The platform works with 200 luxury brands such as Bottega Veneta, Gucci, Loewe, Moncler, Burberry or Loro Piana.
