Mytheresa posts sales up 24.7%

Mytheresa

Mytheresa, the online luxury retailer, achieved a 24.7% increase in sales in the year to June 2019 achieving net revenues of €377 million (2018: $303 million).

The consolidated figure includes both sales from its online operations and its Munich-based boutique, from which the online business was born, and while the figure was not revealed the company said that the EBITDA of the group increased by 50% compared to FY 2018.

CEO Michael Kliger said: “Fiscal Year 2019 was another highly successful year for us. Growing by almost 25% while improving profitability significantly shows that we not only have the right strategy but are also executing very well on it.

“Our vision is to make Mytheresa the best Luxury Customer Experience platform globally. Customer centricity is at the heart of our daily operations and ambitions.”

Mytheresa.com was launched in 2006 (it was born on the back of the iconic Munich boutique which was opened in 1987) and today ships to over 140 countries offering more than 200 luxury brands, including Gucci, Balenciaga, Saint Laurent, Prada and Valentino. In 2014 it was acquired by US department store group Neiman Marcus.

Earlier this year the company revealed that it would be launching menswear from January 2020 promising “tailoring, suiting, original design and appreciation of quality and brand heritage and a refined view on streetwear.”