📈 Strong Q1 Financial Growth
Mytheresa reported a 7.6% increase in net sales, reaching €201.7M ($217M), while GMV rose 6.3% to €216.6M ($233M). The company’s gross profit margin improved by 150bps to 43.9%, and adjusted EBITDA margin rebounded to 1.4% compared to -0.6% last year. This marks a significant improvement in profitability.
🛍️ Key Brand Collaborations
Exclusive collections with Chloé, Bottega Veneta, Saint Laurent, Loewe, Gucci, and The Row helped fuel Mytheresa’s growth this quarter. These collaborations solidified the company’s reputation as a go-to platform for luxury shoppers. Pre-launches created exclusivity, driving traffic and sales.
🇨🇳 Expansion in the Chinese Market
To capture China’s booming luxury market, Mytheresa launched the Mei Lin Shi brand and a WeChat mini program. These initiatives aim to cater to local preferences while enhancing convenience for Chinese consumers. CEO Michael Kliger highlighted these efforts as critical for international growth.
📅 Optimistic Full-Year Outlook
The company predicts a strong FY25, with GMV and net sales expected to grow by 7%-13%. Adjusted EBITDA margins are forecasted between 3%-5%. Kliger emphasized continued momentum and resilience despite economic uncertainties, reflecting confidence in Mytheresa’s strategic direction.
Will Mytheresa's China expansion fuel lasting growth?
