Mytheresa
 | |
| Type of business | Public GmbH |
|---|---|
| Available in | English, German, French, Italian, Spanish, Arabic, Chinese, Korean |
| Traded as | NYSE: MYTE |
| Founded | 2006 |
| Headquarters | Munich, Germany |
| Area served | Worldwide |
| Key people | Michael Kliger, Chief Executive Officer; Martin Beer, Chief Financial Officer; Sebastian Dietzmann, Chief Operations Officer; Gareth Locke, Chief Growth Officer |
| Industry | Luxury, E-commerce |
| Products | Luxury and lifestyle goods |
| Revenue | €913.6 Million GMV in fiscal year 2024 (ended June 2024) [1] |
| Parent | MYT Netherlands Parent B.V. |
| URL | mytheresa |
Mytheresa.com is a listed e-commerce company in the luxury fashion sectore based in Munich, Germany.[2] Mytheresa sells ready-to-wear, shoes, bags, and accessories for womenswear, menswear and kidswear as well as lifestyle products and jewelry globally.
History
[edit]In 1987, Susanne and Christoph Botschen opened the "Theresa" boutique in Munich city center, where they sold designer fashion for women. In 2006, the couple supplemented the physical store by founding an online store, Mytheresa, which offers ready-to-wear, shoes, accessories, and fine jewelry from more than 250 designers.
Mytheresa expanded its offering to include kidswear in 2019,[3] menswear in 2020.[4]
In May 2020, after Neiman Marcus filed for Chapter 11 bankruptcy, Mytheresa was carved out of the bankruptcy estate by financial investors and temporarily financed via shareholder loans of USD 200 million.[5] In January 2021, the immediate parent company, MYT Netherlands, was listed on the NYSE, resulting in USD 407 million in issue proceeds, which were used to repay the shareholder loans.[6] The remainder of the proceeds was used to finance the company's strong growth.
In 2022, Mytheresa expanded its luxury offering to include home décor and lifestyle products with the introduction of the “Life” category.[7] In 2023, the range was supplemented with Certified Pre-Owned watches in collaboration with Bucherer,[8] and the Fine Jewelry category was further expanded. In autumn 2023, Mytheresa opened a new 55,000 m² distribution center at Halle/Leipzig Airport.[9]
In October 2024, it was announced that Mytheresa would acquire Richemont's online luxury fashion and accessories business Yoox Net-A-Porter (YNAP), subject to regulatory approval, in exchange for Richemont acquiring a 33% equity stake in Mytheresa.[10]
Operations
[edit]Since March 2015, Michael Kliger has been the Chief Executive Officer of Mytheresa. The company operates websites in English, German, French, Italian, Arabic, Chinese Korean,[11] and Spanish[12] and delivers to over 130 countries.
References
[edit]- ^ "Full FY24 results for Mytheresa". Retrieved 2024-11-13.
- ^ Luxury fashion platform Mytheresa valued at $2.2 billion in U.S. IPO Aishwarya Nair and Kanishka Singh, Reuters, January 20, 2021
- ^ Mytheresa Launches Kids TAMISON O'Connor, October 24, 2018,
- ^ Mytheresa is about to start selling menswear Faye Fearon, December 11, 2019,
- ^ Roberts, Lauretta (2020-05-07). "Mytheresa.com not part of Neiman Marcus Chapter 11 proceedings". TheIndustry.fashion. Retrieved 2024-11-13.
- ^ "Mytheresa Prices IPO at $26 per Share, for a $2.3 Billion Valuation". The Business of Fashion. 2021-01-21. Retrieved 2024-11-13.
- ^ Mytheresa launches Life, a new luxury lifestyle category Samantha Conti, May 16, 2022,
- ^ Wightman-Stone, Danielle (2023-09-27). "Bucherer launches exclusive retail partnership with Mytheresa". FashionUnited. Retrieved 2024-11-13.
- ^ Moin, David (2023-11-03). "Mytheresa Unveils State-of-the-art Distribution Center to Help Fuel Growth". WWD. Retrieved 2024-11-13.
- ^ Danziger, Pamela N. "Richemont Lends A Helping Hand For Mytheresa To Acquire Yoox Net-A-Porter". Forbes. Retrieved 2024-11-13.
- ^ Mytheresa.com unveils Korean-language site after seeing triple-digit growth Barbara Santamaria, March 21, 2017
- ^ MyTheresa targets Latin America with Spanish website launch Elena Campos Valladares, April 10, 2018,
See also
[edit]
 | This fashion-related article is a stub. You can help Wikipedia by expanding it. |