Mytheresa, the German luxury etailer, reported a 9.8% rise in net sales driven by significant U.S. market growth.
- Net sales for Mytheresa reached €841 million (£710 million) for the year ending 30 June, propelled by a 25% growth in the U.S. market.
- Despite the sales increase, a decrease in profit margin led to a 46.4% rise in net loss, amounting to €24.9 million (£21 million).
- The company hosted exclusive events with luxury brands, strengthening its market presence despite financial challenges.
- Looking forward, Mytheresa projects continued growth with expected increases in gross merchandise value and net sales.
Mytheresa, the German luxury etailer, saw net sales increase by 9.8%, reaching €841 million (£710 million) for the fiscal year ending 30 June, largely due to a 25% growth in the U.S. market. This growth signifies a robust performance in a key international market despite broader economic challenges.
However, the company’s gross profit margin declined to 45.7% from 49.6% the previous year, contributing to a substantial rise in net loss. The net loss increased by 46.4% to €24.9 million (£21 million), highlighting the pressure on profitability despite higher sales.
Mytheresa’s gross merchandise value grew by 7.1% to €914 million (£772 million), reflecting increased customer transactions and engagement. The adjusted EBITDA saw a decline of 32.8%, standing at €25.8 million (£21.8 million), indicating challenges in maintaining earnings before interest, taxes, depreciation, and amortization.
In a strategic move, the company strengthened its brand portfolio by hosting a series of exclusive events and launching collections with luxury brands such as Valentino, Brunello Cucinelli, Bottega Veneta, and Gucci. This not only enhanced customer engagement but also reaffirmed Mytheresa’s position as a leading high-end luxury digital platform.
Looking ahead, Mytheresa anticipates gross merchandise value and net sales growth to be between 7% and 13% for the coming year, with an expected adjusted EBITDA margin ranging from 3% to 5%. Michael Kliger, the chief executive, expressed satisfaction with the fourth-quarter performance, noting doubled profitability in H2 2024 compared to the previous year.
Mytheresa anticipates continued growth through strategic brand partnerships and increased market engagement, despite financial challenges.
