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Mytheresa posts sales of €450m as online sales grow by 20%

Lauretta Roberts
23 September 2020

Mytheresa has recorded revenues of €450m (2019: €377m) in the year ending June 2020 as online sales jumped by 20%.

The Munich-based luxury group operates a global website and a physical boutique in the German city and, in January, it made its first move into menswear.

CEO Michael Kliger said the business was "proud but humble" in light of the strong figures and, while profit figures were not disclosed, he said they had grown despite the pandemic.

"The last months have been very challenging for our customers, brand partners and teams. We are quite proud but remain humble about our continued success under these circumstances. We increased our online revenues by 20%, we grew within all quarters and even increased our profitability during the pandemic.

"We have seen, that we have a very resilient and high growth business concept. Our focus on a clear customer proposition in high-end luxury, excellent digital ervices as well as aspirational digital content make Mytheresa one of the best luxury customer experience platforms globally. Also the launch of Menswear in January has been very successful so far and opened a new business area to us. We are all excited about the future of Mytheresa,” Kliger said.

Mytheresa was launched in 2006 taking the brand of the famous boutique, then known as Theresa, to a global audience. It ships to 140 countries offering high end brands such as Prada, Gucci, Saint Laurent, Loewe and Burberry.

In 2014 the business was acquired by US department store group Neiman Marcus, which recently exited Chapter 11 bankruptcy protection, following a financial restructuring. Mytheresa had been unaffected by the Chapter 11 move and is run on a standalone basis and under separate ownership.

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