Mytheresa, the German-based global luxury fashion platform, has announced that it has launched the initial public offering of its American Depositary Shares (ADS’s), with an initial public offering price expected to be between $16.00 and $18.00 each.
Mytheresa has applied to list on the New York Stock Exchange under the ticker symbol “MYTE”, offering 15,647,059 ADS’s to the public, each one representing one ordinary share of the company.
The listing will be underwritten by Morgan Stanley, JP Morgan, Credit Suisse, UBS, Jefferies and Cowen.
Mytheresa has enjoyed strong sales growth in the face of the pandemic, having recorded revenues of €450m (2019: €377m) in the year ending June 2020 as sales jumped by 20%. In the three months to 30 September it reported a 27.5% rise in net sales to €126.4m.
The business sells around 250 luxury brands from Burberry to Chloe and Prada on its site. It was founded as a designer boutique in 1987 and made the move into e-commerce in 2007.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.