The online luxury fashion retailer MyTheresa only grew slightly at the start of the year due to the Ukraine war and the corona outbreaks in Asia. Of the From January to March, sales increased by almost three percent to 169.5 million euros, the company, which has been listed on Wall Street for more than a year, announced on Tuesday. Things went well in the USA in particular, said company boss Michael Kliger, referring to the resilience of the luxury sector: “Topics such as inflation and recession play no role for our customers.”
Nevertheless, the macroeconomic environment is eroding confidence. MyTheresa only expects in the financial year 21/22 at the lower end of the sales range for the year from 700 to 720 million and gross profit of 350 to 365 million euros to land. In the third fiscal quarter, adjusted operating profit (Ebitda) fell by eight percent to 10.2 million euros. April went very well again, said Kliger.
In the meantime, the internationally active supplier, which offers fashion by designers such as Gucci, Yves Saint Laurent, Prada, Burberry and Valentino, is emerging 755,000 customers. According to Kliger, after the pandemic, they no longer feel like sneakers and cashmere and instead buy dresses, bags and high heels. “It’s going outside again,” said Kliger and therefore also relies on special luxury fashion events such as recently with Gucci in Miami. Kliger now wants to expand the MyTheresa portfolio and also offer luxury goods for the home.
The online fashion retailer, which started with a shop in downtown Munich in 1987, has been cooperating with the for some time now Second-hand platform Vestiaire Collective and want with that Offer soon to expand to the US. Through Vestiaire, customers can sell their clothes and receive vouchers for the MyTheresa shop. In the last quarter alone, goods worth 850,000 euros were sold, said Kliger.