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Mytheresa FY22 sales up 21.3%

Lauretta Roberts
15 September 2022

Mytheresa, the online luxury fashion platform, posted GMV (gross merchandise value) up 21.3% to €747.3 million (£650.2m) in FY22, despite the challenging economic backdrop.

Net sales increased to €689.8 million (£599.8m), a 12.7% growth from €612.1 million (£532.2m) in fiscal year 2021. EBITDA was up 20.7% at €66.3 million (£57.6m) giving an EBITDA margin of 9.6% versus the prior year's 9%.

The Munich-based global business has achieved strong growth throughout the pandemic and beyond with three-year GMV growth (FY19-FY22) up 97.1%, while Q4 in FY22 had shown an acceleration in growth against Q3.

Its CEO Michael Kliger said the business was well positioned to take advantage of the rapid consumer shift to digital in luxury.

“Our strong financial results for fiscal year 2022, as well as for the fourth quarter, put us at the very top of performance of digital platforms. The results prove the unique positioning and business model of Mytheresa. We showed strong growth and profitability against a backdrop of economic and geopolitical challenges.

"We remain very confident that the high-end digital luxury sector combined with our superior business model will provide excellent results for our investors in the years to come. We will, of course, remain very agile in reacting to external developments and their potential impact on our business," he said.

Kliger continued: “In the fourth quarter, our GMV growth accelerated from Q3, we saw above average GMV growth in the United States, where we strengthened our position as a top of mind shopping destination for luxury consumers. Customer engagement and retention continued to increase, which speaks to our unique positioning attracting a highly valuable multi-brand customer that appreciates our excellent service. We see ourselves as one of the few winners in the clearly consolidating luxury ecommerce space.” 

Guidance for the next financial year has been set at 16%-22% GMV growth and a stable adjusted EBITDA margin of between 9% and 9.5%.

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