Mytheresa reports 10% revenue growth

Mytheresa, the posh ecommerce platform rooted in Germany, saw its revenue increase by 9.8 percent prior to now fiscal yr. Sales especially surged within the second half of the fiscal yr, and profitability also improved over the course of the yr.

Mytheresa’s revenue amounted to 840.9 million euros, in comparison with 766.0 million within the previous fiscal yr. The Gross Merchandising Value (GMV) grew by 7.1 percent, to 913.6 million euros. At the underside line, the multi-brand luxury platform reported an adjusted net income of seven.7 million euros, in line with the financial report.

Growth momentum

Mytheresa’s growth momentum continued into the second half of fiscal yr 2024, with revenue growth of 13.8 percent and GMV growth of 11.4 percent. The corporate’s adjusted EBITDA margin surged to 4.3 percent on this six-month period, a notable increase from 1.7 percent in the primary half of the fiscal yr and a couple of.3 percent within the second half of the previous fiscal yr. Profitability improved notably within the fourth quarter, which ended on June 30.

Almost doubling profitability

Michael Kliger, Mytheresa’s Chief Executive Officer, expressed satisfaction with the corporate’s revenue and profit growth: “We’re very happy with our performance within the fourth quarter because it drove the continued very positive momentum for Mytheresa in H2 of fiscal 2024 with double-digit growth and almost doubling of profitability in comparison with the prior yr.”

‘We’re very happy with our performance.’

Mytheresa, which competes with firms like Fashionette and Amazon, ships to over 130 countries. Roughly 20 percent of its revenue now comes from the US.

High-end luxury shoppers

In line with Mytheresa, its “unique digital experience is predicated on a pointy give attention to high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms, in addition to high-quality service operations”. Earlier this yr, Mytheresa reportedly showed interest in acquiring Yoox Net-a-Porter, which has been put up on the market by its owner, Richemont.

Online fashion, beauty, and luxury market

The full European online fashion, beauty, and luxury market generated a turnover of 213 billion euros in 2023, in line with figures released last week by Cross-Border Commerce Europe. The cross-border share of that market grew to 38 percent and is predicted to grow to 40 percent this yr.