The second quarter of Mytheresa’s fiscal year 2024–2025 saw a double-digit revenue increase for the Munich-based luxury fashion retailer. Additionally, the company’s profits increased. CEO Michael Kliger was extremely pleased with the most recent data that the publicly traded parent company MYT Netherlands Parent B.V. provided.
During October through December, Mytheresa made US $ 238.6 million in revenue. When compared to the same quarter last year, this indicates a 13.4 per cent gain. The company’s notable rise is due in part to the US’s above-average growth (+17.6 per cent). At US $ 261.4 million, the Gross Merchandise Value (GMV) grew by 11.9 per cent.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), excluding extraordinary items, more than doubled to US $ 17.3 million from US $ 8.0 million in the previous year’s quarter due to robust revenue growth and a higher gross margin. There was a decrease in the reported net loss from US $ 6.2 million to US $ 5.0 million.
Management now anticipates revenue and GMV growth of 7 and 13 per cent, respectively, for the entire fiscal year. With exceptional items excluded, the adjusted EBITDA margin should be between three and five per cent.
But the business is going through a lot of changes. The first part of the year is anticipated to see the completion of the acquisition of online fashion retailer Yoox Net-a-Porter Group (YNAP), which was agreed upon last October. Mytheresa has declared that following the acquisition, the parent firm will be rebranded as LuxExperience B.V.
