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Mytheresa sales rise as it confirms full-year outlook

Sophie Smith
10 May 2023

Luxury multi-brand platform Mytheresa has reported a 17.8% increase in gross merchandise value to £191 million (€219.8 million) for the third quarter ending 31 March 2023.

The company's net sales were up 17.3% year-over-year to £172 million (€198.9 million), supported by "high-impact top customer and brand activations held in Europe, the Middle East and US". 

Adjusted EBITDA for the third quarter totalled £2.7 million (€3.2 million), representing an adjusted EBITDA margin of 1.6%. Year-to-date adjusted EBITDA reached £29.2 million (€33.6 million), with an adjusted EBITDA margin of 6%.

For the full-year ending 30 June 2023, the company expects GMV in the range of £734-747 million (€845-860 million) euros, representing 13-15% growth. It also anticipates full-year net sales in the range of £652-665 million (€750-765 million), with 9-11% growth. 

Michael Kliger, CEO of Mytheresa, said: “We are very satisfied with the global growth in our business producing industry-leading 18 percent top-line expansion. Our margin has been impacted by the strong promotional intensity of many competitors in Q3 but we delivered profitable growth.

"Beyond our solid financial performance, we are very pleased to announce key strategic initiatives that will further strengthen our industry leadership.

"For example, we recently celebrated the launch of four capsule collections by Chinese designers as part of our China Designer Program. We now offer our customers certified pre-owned watches by major luxury brands on our platform through our partnership with Bucherer. Finally, we have successfully completed last month the transition to a completely new tech platform powering all our user interfaces and e-commerce processes.”

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