// Mytheresa reveals plans for a Wall Street IPO
// The IPO could value the company at £1 billion
// Mytheresa launched its online business in 2006 and now trades in 140 countries
Mytheresa has announced plans for a Wall Street IPO, which could value it at as much as £1 billion.
The online fashion retailer that sells luxury brands includes Burberry and Gucci, and was originally founded as a bricks-and-mortar store in Munich, Germany.
In its last financial year, Mytheresa generated net sales of €449.5 million – up 8.6 per cent on the previous year, while net income rose to €6.4 million versus €1.7 million in 2019.
Mytheresa launched its online business in 2006 and has since grown to trade in approximately 140 countries including the UK.
“Our customers are high-income luxury consumers that value quality and experience over price, and curation over assortment breadth,” Mytheresa chief executive Michael Kliger said.
“We have a differentiated value proposition, as well as a profitable business model that has proven enduring and scalable.”
He added that the business intends to grow by being “one of the finest edits in luxury fashion and the partner of choice for the world’s most coveted luxury brands”, by offering ”a true luxury experience to a global customer base”.