Diana Leon Band
Sep 14 2021
Mytheresa has reported another strong quarter and year, and has even exceeded its own expectations. The fourth quarter saw “exceptional net sales growth” and the full year exceeded expectations for 2020 and 2019.
The Germany-based company said that in the latest quarter (the three months to the end of June) net sales increased 36.1% to 162.4 million euros year-on-year. For their part, net sales for the entire year increased by 36.2% year-on-year, to 612.1 million euros.
But more importantly, net sales growth was 60.5% in the quarter and 61.5% in the year, compared to the last pre-pandemic period, underscoring the strong growth of the business as Selling online has become a much more important part of luxury selling.
It also said it saw continued strong profitability with an Adjusted Ebitda for the year of € 54.9 million, compared to € 35.4 million a year earlier, while the Adjusted Ebitda margin increased to 9% from the 7th. , 9%.
The luxury multi-brand digital platform said it had been able to successfully continue strong growth driven by a “fundamental shift in consumer behavior, and a superior business model based on a strong focus on the luxury customer and strong customer partnerships. Mark”.
In the fourth quarter, this helped it deliver strong net sales growth across all geographic areas, with “extraordinary” growth in the US (up 133.3% YoY) “thanks to increased sales. consumer demand “.
During the quarter, the company strived to reach luxury shoppers with high-impact events for top clients in Beijing and Paris, as well as exclusive capsule collections and pre-releases in collaboration with Alexander McQueen, Loro Piana, Jacquemus, Missoni, Brunello. Cucinelli, Roger Vivier, Valentino and Christian Louboutin, among others. She also launched her first beauty pop-up in collaboration with the Estée Lauder Companies with La Mer, Frédéric Malle and By Killian.
The company is optimistic about the year until June 2022. It expects a business volume of between 750 and 770 million euros, which represents a growth of 22% to 25%. He expects active customers to grow by a similar amount, leading to net sales of between € 680 million and € 700 million. And the gross profit should be from € 345 million to € 355 million, which is an increase from 21% to 24%, with an adjusted Ebitda margin of 7% to 9%.
“Despite a year of continued uncertainty and unprecedented change, we have once again achieved strong new customer growth and delivered excellent results. We view this as a strong affirmation of our unique and superior value proposition to customers and partners. branded globally, “said CEO Michael Kliger.
“Mytheresa’s focus on selection, content and service drove exceptional superior results that exceeded our expectations, with a stable gross profit margin and, most importantly, with an extremely high customer satisfaction rate. Consumer demand shift towards online luxury has been accelerated significantly by the pandemic. We clearly believe that this trend will continue in the post-pandemic world, likely returning to the strong market growth rates we had seen before the pandemic began. “, he assured.
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