Mytheresa, a leading luxury retail platform, recently revealed a notable surge in sales during the second quarter of the fiscal year. According to the company’s latest financial report, net sales jumped by 3.6 percent to reach €197 million, in compliance with international financial reporting standards. This growth was mainly fueled by a robust double-digit increase in North America, with net sales soaring even higher by 8.3 percent on a constant currency basis. Furthermore, the Gross Merchandise Volume (GMV) witnessed a solid 5.9% growth on a constant currency basis, reaching €219.1 million.
Among the key highlights of the second quarter outlined by Mytheresa were the remarkable double-digit revenue growth in the United States, which surged by an impressive 17.4 percent. The company also experienced substantial growth in its global top customers segment and organized successful events catering to top customers worldwide. Mytheresa also earned accolades for delivering exceptional service, garnering a customer Net Promoter Score (NPS) exceeding 80%.
Although a net loss of €5.4 million was recorded for the three months ended December 31, in contrast to a net loss of €0.5 million in the same period last year, CEO Michael Kliger expressed contentment with Mytheresa’s performance amidst a challenging macroeconomic environment. Kliger pointed out the positive revenue growth and adjusted EBITDA achieved in the second quarter, exceeding market expectations and outshining competitors.
Kliger accentuated Mytheresa’s resilient business model and strategic focus on high-spending top customers as fundamental drivers of market share expansion. He voiced strong confidence in the company’s medium-term outlook, citing optimistic forecasts for the digital luxury sector and Mytheresa’s competitive edge.
Looking into the future, Mytheresa has projected GMV and net sales growth ranging from 8% to 13% for the entire fiscal year ending June 30, 2024. With a steadfast commitment to offering an unparalleled digital luxury shopping experience for discerning consumers and luxury brands alike, Mytheresa is positioned to capitalize on market improvements and accelerate its growth.
To learn more about Mytheresa’s financial performance, visit their official website here. For insights into the luxury retail sector, check out this article here.
