Mytheresa sales rise 17.6% to €233.9m in Q3
Adjusted EBITDA reached €9.2m (£7.8m), while operating loss narrowed to €1.8m (£1.5m) from €6.4m the year prior
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Luxury retailer Mytheresa reported a 17.6% net sales increase to €233.9m (£200.6m) for the third quarter ended 31 March.
Gross Merchandise Value (GMV) increased 14.7% to €252.2m (£216.3m) compared to €219.8m (£188.5m) in the prior year period.
Gross profit also increased 12% to €101.6m (£87.1m) with a 43.4% gross profit margin. Adjusted EBITDA reached €9.2m (£7.8m), while operating loss narrowed to €1.8m (£1.5m) from €6.4m (£5.4m) the year prior.
During the period, Mytheresa launched exclusive capsule collections in collaboration with Gucci, Bottega Veneta, Saint Laurent, Loewe, Givenchy, Brunello Cucinelli and other brands. It also held customer activations and “money can’t buy” experiences in Europe, the US and Asia.
For the full year the retailer now expects total gross profit to be on last year’s level, GMV and net sales growth in the range of 8% to 13% and an adjusted EBITDA margin in the range of 3% and 5%.
Michael Kliger, chief executive officer of Mytheresa, said: “We are very pleased with the strong performance in the third quarter. Double-digit revenue growth, double-digit Top Customer growth and a very high growth US business underscore that Mytheresa is not just a luxury e-commerce platform. We build a community for luxury enthusiasts and create desirability through digital and physical experiences.
“We see ourselves as one of the few winners in an otherwise still tough market environment. We clearly gain market share with our above average growth rates. We are benefiting from the consolidating landscape of luxury e-commerce players in a market that has huge growth prospects based on changing customer preferences favouring digital channels.”
