Mytheresa announces pricing of US IPO
13 Jan 2021
German luxury fashion e-tailer Mytheresa has revealed the pricing of its IPO that it announced at the end of 2020.
The retailer said it plans to sell around 15.6 million American depositary shares (ADS) at between 16 and 18 dollars each.
The company will be listed on the New York Stock Exchange under the ticker symbol ‘MYTE’.
Mytheresa, which was founded in Munich in 1987 by Susanne and Christoph Botschen, has been growing quickly in recent years as it capitalises on the luxury industry’s shift to online.
The business has also performed well during the Covid-19 pandemic. Its consolidated net revenue from its online platform and physical stores in Munich increased 19 percent to 450 million euros last year, up from 377 million euros in 2019. Its online business grew by 20 percent in 2020.
Mytheresa was acquired by Neiman Marcus in 2014 after years as a small luxury e-commerce player. Neiman Marcus filed for bankruptcy earlier this year and handed over part of Mytheresa to its creditors as it left Chapter 11.
Photo credit: Mytheresa