Clothing & Shoes

Mytheresa Q3 sales jump 47.5% to £142m

The group’s adjusted EBITDA for the period tripled following its New York IPO

MYT Netherlands Parent BV, the parent company of luxury fashion and designer firm Mytheresa, saw its net sales for Q3 FY21 rise 47.5% year-on-year to €164.8m (£142.2m).

The group’s adjusted EBITDA for the period ended 31 March 2021 more than tripled to €11.1m (£9.58m), up from €3.1m (£2.67m) last year.

Mytheresa’s growth follows its New York IPO in January of this year, with sales in the US increasing 75.8% year-on-year following the listing.

The online retailer also delivered strong sales growth for the nine months ended 31 March 2021, rising 36.2% year-on-year to €449.7m (£338.1m).

The group’s adjusted EBITDA more than doubled for the financial year to date, climbing from €20.3m (£17.5m) in FY20 to €43.7m (£37.7m) this year.

Michale Kliger, CEO at Mytheresa, said: “In the third quarter, our company was even able to accelerate our growth. This was largely driven by the continuous shift of consumer behavior towards digital and multi-brand offerings. 

“We had a new record in first-time buyers in the quarter and our recently acquired customer cohorts show higher re-purchase rates than before.”

He added that returning consumers have also represented a “strongly increased spend”, as people begin to “resume pre-pandemic activities such as social events and vacation”.

Looking ahead, Mytheresa has raised its guidance for its upcoming full-year results, claiming that net sales will now reach between €600m (£517m) and €605m (£522m), while adjusted EBITDA will hit up to €59m (£50.9m).

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