Mytheresa news and archive

Mytheresa secures regulatory clearance for YNAP acquisition

German e-tailer Mytheresa has said that it has received clearance to acquire Yoox Net-a-Porter (YNAP) from the European Commission. With this, the company has now secured all necessary approvals from regulatory authorities to move forward with the sale and plans to close the transaction by April 23, 2025. Mytheresa had first announced its...

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Mytheresa reports significant revenue increase and reduced loss

Munich-based luxury fashion retailer Mytheresa achieved double-digit revenue growth in the second quarter of its fiscal year 2024/25. The company also improved its earnings. CEO Michael Kliger expressed strong satisfaction with the latest figures, which the listed parent company MYT Netherlands Parent B.V. presented on Tuesday. "We are very...

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Mytheresa: Holding to operate as LuxExperience following YNAP acquisition

The holding company of munich-based fashion retailer Mytheresa will operate under a new name following the takeover of Yoox Net-a-Porter (YNAP). MYT Netherlands Parent BV is currently preparing to rename the company as LuxExperience BV, the firm announced on Monday. Subject to shareholder approval in March, the company will be called...

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Mytheresa nominates Richemont CFO Burkhart Grund to supervisory board

Mytheresa has announced the appointment of Burkhart Grund, chief financial officer of Richemont, as a new supervisory board member, following the completion of its acquisition of YNAP. “We are pleased to welcome Burkhart Grund, a highly experienced financial expert, to our board,” said Nora Aufreiter, chair of the supervisory board of Mytheresa....

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Mytheresa posts positive Q1 results

Mytheresa’s net sales for the first quarter increased by 7.6 percent to 201.7 million euros, while GMV growth was 6.3 percent to 216.6 million euros compared to the same quarter of FY24. The company’s gross profit margin of 43.9 percent, improved 150bps and profitability by 200bps at adjusted EBITDA margin level of 1.4 percent compared to...

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Mytheresa closes the deal to acquire YNAP from Richemont

Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...

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Is Mytheresa set to acquire YNAP?

After what has been a long and, seemingly, tedious sales process, Swiss luxury giant Richemont may have finally found a buyer for its loss-making e-commerce platform Yoox Net-a-Porter (YNAP). It has been reported that German luxury e-tailer Mytheresa is close to snapping up what had been its online rival after formerly interested parties, Bain...

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Mytheresa strengthens presence in China with new brand name and WeChat

Munich-based fashion retailer Mytheresa is strengthening its presence in China through the introduction of a new local brand name and the launch of a new programme on the Chinese instant messaging, social media and mobile payment app WeChat. The introduction of the new Chinese brand name '美遴世' (Mei Lin Shi) follows the appointment of Dede Chan...

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Despite sales increase, Mytheresa reports higher annual loss

Munich-based fashion retailer Mytheresa closed the 2023/24 financial year with a solid increase in sales. However, its loss was significantly higher than in the previous year. This is evident from the current annual report, which the listed holding company MYT Netherlands Parent BV published on Thursday. In the financial year to the end of June,...

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Amber Pepper to join Mytheresa as chief customer experience officer

Luxury multi-brand platform Mytheresa has announced the appointment of Amber Pepper as new chief customer experience officer as of October 1, 2024. Commenting on the new appointment, Michael Kliger, CEO of Mytheresa said: “Amber’s expertise and experience will be instrumental to further grow the leadership position of Mytheresa as the best...

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Mytheresa and Vestiaire Collective expand collaboration

Online fashion retailer Mytheresa and resale platform Vestiaire Collective have expanded their collaboration and will extend Vestiaire Collective's exclusive resale service to all Mytheresa customers in Europe, the UK and the US with immediate effect. The service was first introduced in Europe for Mytheresa's top customers in June 2021 and was...

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Mytheresa's Q3 net sales grow by 17.6 percent

Mytheresa’s third quarter net sales increased 17.6 percent to 233.9 million euros and GMV rose 14.7 percent to 252.2 million euros. The company reported gross profit growth of 12 percent to 101.6 million euros with 43.4 percent gross profit margin and improved Adjusted EBITDA margin to 3.9 percent compared to the same period last year....