Luxury fashion e-commerce giant Mytheresa.com is generating buzz with its plans to go public with an IPO in the U.S. in early 2021. The company, which was founded in 2006 near Munich and acquired by Neiman Marcus in 2014, is aiming for a valuation of $1 billion to $1.5 billion as it capitalizes on the surge of online shopping during the Covid-19 pandemic.
Despite being spun off from Neiman Marcus due to bankruptcy earlier this year, Mytheresa has remained resilient and is attracting attention from potential investors, including special purpose acquisition companies (SPACs). The pandemic has accelerated the shift towards e-commerce, with traditional brick-and-mortar stores struggling and consumers increasingly turning to digital platforms for their shopping needs.
The IPO market for digital companies has been particularly active this year, with a record $18.3 billion raised by internet firms. Mytheresa’s decision to go public follows the success of Farfetch, another luxury e-commerce player, whose share value has skyrocketed since its listing on the New York Stock Exchange in 2018. The booming resale market, led by platforms like ThredUp and Poshmark, has also seen substantial growth, prompting these companies to consider their own IPOs.
As Mytheresa prepares for its public debut, industry observers are keen to see how the company will leverage its success and navigate the evolving retail landscape post-pandemic. With the digital marketplace continuing to show robust growth, Mytheresa’s IPO could signal a significant milestone for the luxury e-commerce sector.
For more information on Mytheresa’s IPO plans, visit their official website here. Additionally, to learn about the latest trends in luxury e-commerce, check out this insightful article here.
