"},"content":{"rendered":"<\/p>\n
<\/p>\n
Mytheresa<\/strong>‘s second-quarter results for 2023-2024<\/strong>, which ended on December 31<\/strong>, were a resounding success.<\/strong><\/p>\n While its competitor Farfetch is going through a rough patch<\/strong>, Mytheresa<\/strong>, the German luxury e-commerce platform, has just published solid results for its second quarter<\/strong>. And while the U.S. market<\/strong> is a source of concern for many in the luxury goods sector, Mytheresa is in particularly good shape<\/strong> there.<\/p>\n Michael Kliger, CEO of Mytheresa<\/strong>, commented: “We are pleased with our results<\/strong> in a difficult macroeconomic environment. With positive sales growth and positive adjusted EBITDA in the second quarter, we not only exceeded market expectations, but also virtually all our competitors<\/strong>. Our resilient business model and our focus on the highest-spending and most demanding customers are enabling us to gain market share in the current environment, and we are therefore well positioned to benefit and accelerate when market conditions improve.”<\/p>\n Mytheresa continues to deliver good news.<\/p>\n\n Net sales rose by +8.3% at constant exchange rates<\/strong>, year-on-year, to 197 million euros<\/strong>.<\/p>\n Its profitability is well above that of a consolidating market, with a gross profit margin of 49.9% and a positive adjusted EBITDA margin of 4%<\/strong>. Although the gross margin declined<\/strong>, it is expected to improve in the next quarter.<\/p>\n In general, Mytheresa satisfies its customers<\/strong>. Its Net Promoter Score<\/strong> was 80.8%<\/strong>! Above all, it is increasingly attracting customers with very high purchasing power<\/strong>. In the second quarter, the number of its best customers<\/strong> worldwide rose by +15.6%<\/strong>.<\/p>\n This is reflected in spending: the platform set a new record for average order value<\/strong>. The average order value was $672, up +5.4% year-on-year.<\/p>\n Geographically speaking, Mytheresa has made sparks fly in the US market<\/strong>, with net sales growth of +17.4%<\/strong>. Here too, performance was driven by the company’s excellent standing with the most affluent customers<\/strong>. Net sales to top US customers rose by almost +47.6%! And spending in this market continued to drive the site’s dynamic performance in January.<\/strong><\/p>\n The brand succeeded in boosting its desirability in Los Angeles<\/strong> by deploying the “Holiday House”<\/strong> activation during the holiday season. This immersive physical luxury shopping experience was carried out in collaboration with Flamingo Estate concept stores.<\/p>\n By contrast, the APAC (Asia-Pacific) region was less buoyant, with a slight drop in net sales.<\/p>\n Mytheresa is stepping up its collaborations with luxury brands<\/strong> to keep customers coming back for more. In the second quarter, it offered exclusive capsule collections and pre-launches with, among others, Ala\u00efa, Alexander McQueen, Chlo\u00e9, Givenchy, Pucci, Victoria Beckham and Loro Piana<\/strong>. She also claims to have “offered unique experiences that money can’t buy in collaboration with Givenchy (Paris) and Miu Miu (Vienna)”.<\/p>\n At the end of February<\/strong>, it will launch an immersive shopping application for Apple Vision Pro.<\/strong><\/p>\n While on the ecological front, it is also striving to be virtuous. A five-year strategic partnership has been signed with DHL, to reduce CO\u2082 emissions<\/strong> through the use of sustainable aviation fuel (SAF) as an auxiliary fuel.<\/p>\n For Michael Kliger, Mytheresa’s success is also sustainable…<\/p>\n “We’re very confident about the company’s medium-term prospects<\/strong>, given the very positive projections for the digital luxury sector and our competitive strength. We believe that Mytheresa offers the best luxury digital shopping experience for high-spending consumers and true luxury brands,” he emphasized.<\/p>\n Mytheresa is therefore “confident in its ability to increase its full-price market share in the second half of the fiscal year”.<\/p>\n According to the platform, we can expect an increase in digital luxury spending, with a likely 30% penetration by 2030.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Sales of the German luxury e-commerce platform continued to grow at the end of 2023, even if its profitability eroded slightly. On the other side of the Atlantic, double-digit growth was achieved, boosted in particular by the company’s growing success with high-spending customers.<\/p>\n","protected":false},"author":457,"featured_media":132718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"%%post_title%% %%sep%% %%sitetitle%%","_seopress_titles_desc":"Mytheresa reported solid results for the second quarter of 2023-24, ended December 31. 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Sparks fly across the Atlantic<\/h2>\n
New capsule collections<\/h2>\n
Confidence in the future<\/h2>\n