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Mytheresa has reported a 15 per cent growth in GMV (Gross Merchandise Value) in the year to 30th June 2023 as the luxury fashion platform continues to focus on its top-spending customers amid challenging market conditions.
GMV increased to € 855.8 million during the year from € 747.3 million the previous year (top customer GMV growth increased by more than 30 per cent). At € 689.8 million, net sales were up 11.4 per cent. While EBITDA hit € 41.1 million and the gross margin decreased from 51.5 per cent to 49.8 per cent, the EBITDA margin increased to 5.3 per cent.
GMV increased 13 per cent to € 222.2 million in the fourth quarter, while net sales increased 16.5 per cent to € 203.8 million. The quarter’s adjusted EBITA totaled € 41.1 million. According to CEO Michael Kliger, the outcomes distinguish the company from the competition.
“Double-digit growth across all geographies. as well as continued profitability sets us apart especially in this current very difficult market environment,” he said.
Mytheresa offers ‘money can’t buy’ events like a three-day trip to Portofino with Dolce & Gabbana to celebrate the release of an exclusive capsule collection, with cocktails serving as the designers’ house, in order to increase interaction and spending with top consumers. It also opened a certified pre-owned watch business and had its first pop-up in The Hamptons. Top clients’ average order value is currently € 654.
In the years to come, the company anticipates GMV growth of between 8 per cent and 13 per cent and an EBITDA margin of between 3 per cent and 5 per cent.
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