Mytheresa, the luxury e-tailer from Germany, has seen its revenues and profits go up for the year ended 30 June 2022.
While the e-tailer’s net sales rose by 12.7 per cent to € 690 million, the gross profit went up by 23.7 per cent to clock € 355 million.
The adjusted EBITDA for the said period surged by 20 per cent to € 66 million.
Mytheresa, during the year, saw its gross profit rise year-on-year to 51.5 per cent from 46.9 per cent from the year-ago period.
The e-tailer attributed the rise in revenue and profits to luxury consumers shifting to online shopping in addition to the continued consolidation in the digital luxury sector.
For the full year to 30 June 2023, Mytheresa now expects gross merchandise value to rise to € 865 million to € 910 million at a growth of 16 to 22 per cent.
The gross profit is expected to grow between € 410 million and € 435 million at a growth of 16 to 22 per cent.
Founded in 2006, Mytheresa is known for high-end apparels, shoes, bags and accessories from luxury designer brands such as Bottega Veneta, Burberry, Fendi, Gucci and Moncler, amongst others.
