German fashion e-tailer Mytheresa has recorded gross merchandise value (GMV) growth of 29.7 per cent in the first quarter.
The GMC grew to €163.9 million during the quarter that ended 30 September 2021. Notably, it was €126.4 million during the same quarter a year before. That’s a massive year-over-year (Y-o-Y) jump of 65 per cent.
The adjusted EBITDA for Q1 surged Y-o-Y by 34.4 per cent to post €14 million. Here it is important to state that Mytheresa increased its EBITDA margin from 8.3 per cent to 8.9 per cent in the quarter.
Stating about the profit, the e-tailer saw its profit margin increase from 46.4 per cent to 49 per cent in the said period.
Mytheresa’s adjusted operating for Q1 was €11.8 million, which is a 118 per cent jump from what it was a year earlier.
Consequently, the e-tailer now expects GMV, for the full year to 30 June 2022, to increase from €750 million to €770 million, representing a growth of 22 to 25 per cent. The firm expects the gross profit to be between €345 million and €355 million at a growth of 21 to 24 per cent.
Mytheresa, founded in 2006, 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.
Also Read: German online retailer Mytheresa records 36.1% jump in Q4 net sales to €162.4 million
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