Mytheresa reports 19 percent increase in full-year revenue
21 Sep 2020
German fashion retailer Mytheresa has bucked the trend of Covid-19-related difficult retail and reported a 19 percent increase in full-year revenue.
The company saw its consolidated net revenue from its online platform and physical stores in Munich reach 450 million euros in 2020, up from 377 million euros in 2019. Its online business grew by 20 percent over the year.
Commenting on the results, CEO Michael Kliger cited the company’s “resilient and high growth business concept” and the “very successful” launch of its menswear category in January.
“The last months have been very challenging for our customers, brand partners and teams. We are quite proud but remain humble about our continued success under these circumstances,” Kliger commented. “We increased our online revenues by 20 percent, we grew within all quarters and even increased our profitability during the pandemic.”
The company did not share profit figures.
Mytheresa, which was bought by Neiman Marcus in 2014, said it will continue to operate as a standalone business but under a completely separate ownership once Neiman Marcus exits its ongoing Chapter 11 bankruptcy process.
Photo credit: Mytheresa