// Mytheresa sales rise in nine months to March 31
// Gross profit increased over 35% to £180.3m
Mytheresa has reported a sales rise of 36.2 per cent year on year to €449.7 million (£386.7 million) in the nine months to March 31.
The online retailer increased its gross profit by 35.5 per cent to €209.6 million (£180.3 million), compared to the same period last year, while adjusted EBITDA rose to €43.7 million (£37.58 million), a 115.3 per cent increase compared to 2020.
Adjusted operating profit income rose to €37.6 million (£32.34 million), a 157.5 per cent jump on the previous year.
READ MORE: Mytheresa warns of sales slump as retailers prepare to reopen stores
In the nine-month period, Mytheresa launched exclusive capsule collections in collaboration with Burberry, Bottega Veneta, Marine Serre x Jimmy Choo, The Attico, Totême, Simone Rocha and Loewe.
It has now raised its guidance, and expects to achieve net sales of between €600 million (£516 million) to €605 million (£520.3 million), which represents a year on year growth of between 33 per cent and 35 per cent.
“In the third quarter, our company was even able to accelerate our growth,” Mytheresa chief executive Michael Kliger said.
“This was largely driven by the continuous shift of consumer behavior towards digital and multi-brand offerings.
“We had a new record in first-time buyers in the quarter and our recently acquired customer cohorts show higher re-purchase rates than before.
“Additionally, we are seeing a strongly increased spend from our top customers as they begin to resume pre-pandemic activities such as social events and vacation.
“We grew strongly in almost all geographies, especially in the US, where we saw net sales growth of over 76 per cent.
“Even when we adjust for the relatively low comparables of the third quarter in 2020 it is very clear that our positioning as a curated, multi-brand luxury platform gives us both strategically and financially a fantastic position to capitalize both on the short-term as well long-term growth opportunities in the market.
“Our success continues to be based on a sharp luxury customer focus, strong brand partnerships and an execution-driven and profit-making business model.
“The extraordinary results of the third quarter demonstrate our strong position as the leading curated platform for luxury fashion. Accordingly, we have raised our guidance for the full fiscal year 2021.”
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