German luxury e-tailer Mytheresa experiences a notable rise in net sales, yet sees operational losses more than double.
- The company reports a 7.6% year-on-year increase in net sales to €201.7 million for the quarter ending 30 September.
- Exclusive capsule collections with luxury brands and intimate customer events contributed to sustained AOV growth.
- Despite positive EBITDA adjustments, operating losses surged by 123% compared to the previous year.
- Future expectations include a potential EBITDA margin between 3% and 5% and sales growth of up to 13%.
German luxury retailer Mytheresa has navigated challenging market conditions by achieving a 7.6% increase in net sales, amounting to €201.7 million for the quarter ending 30 September. The retailer has strategically collaborated with high-demand luxury labels like Loewe, The Row, and Chloé, launching exclusive capsule collections which have helped attract and retain customers.
Simultaneously, Mytheresa has hosted exclusive events, such as a dinner reception with designer Simone Rocha, enhancing customer engagement and satisfaction. This strategic approach resulted in the average order value rising by 9% year-on-year, reaching a new record of €720.
Although the company returned to profitability at the EBITDA level, with a margin improvement of 1.4% compared to a negative 0.6% a year earlier, operating losses have significantly increased. The losses rose to €30 million, marking a 123% increase from the previous year. Such financial strain reflects the ongoing challenges within the luxury retail sector.
The company’s future outlook remains cautiously optimistic, with predictions of an EBITDA margin ranging between 3% and 5% for the fiscal year ending 30 June 2025. Sales growth for the full year is expected to fall between 7% and 13% year-on-year. Enhancing its strategic positioning, Mytheresa announced a significant acquisition deal involving Yoox-Net-A-Porter, aiming to finalise this transaction in the first half of 2025.
Commenting on the performance, CEO Michael Kliger noted positive momentum, highlighting their leading position within a consolidating market and the benefits anticipated from improving conditions. He stressed the importance of robust customer relations, high average order values, and improved margins in underpinning the company’s financial stability.
Despite rising losses, Mytheresa shows resilience through strategic growth and market positioning.
