Mytheresa's Profits Soar as YNAP Acquisition Nears

Deal News | Feb 11, 2025 | EIN

Mytheresa's Profits Soar as YNAP Acquisition Nears

Mytheresa has reported a 13% increase in sales for the second quarter of its fiscal year, while profit indicators such as adjusted EBITDA more than doubled to €16 million. The online luxury retailer is preparing for the acquisition of its competitor Yoox-Net-a-Porter (YNAP), expected to be completed by July, by ramping up technology staffing and planning to integrate YNAP onto its software platform. Mytheresa has distinguished itself by focusing on high-ticket sales, particularly in fine jewellery, allowing it to maintain a strong market presence during a broader luxury market slowdown. The company's CEO, Michael Kliger, emphasized the need to blend complementary operations while preserving distinct consumer experiences under one roof. Mytheresa's successful merger with YNAP is projected to generate €4 billion in revenue by 2029, a critical milestone to stay competitive in the online luxury space amid rivals such as Moda Operandi and Cult Mia.

Sectors

  • Luxury E-commerce
  • Mergers and Acquisitions

Geography

  • Germany – Mytheresa is a German luxury online retailer, and its geographical focus influences its market strategy and operations.
  • United States – The company has shown significant growth in sales within the U.S., indicating a strong presence in this key market.
  • Europe – Mytheresa’s noteworthy performance in Europe underscores its stronghold in this region, which is significant for its business operations.

Industry

  • Luxury E-commerce – The article primarily concerns online luxury retail companies engaged in high-end fashion, focusing on their market strategies and financial performance.
  • Mergers and Acquisitions – The article discusses an impending acquisition of Yoox-Net-a-Porter by Mytheresa, involving strategic preparations and expected outcomes.

Financials

  • 223 million – Mytheresa’s sales for the second quarter of their fiscal year.
  • 16 million – Mytheresa’s adjusted earnings before interest, taxes, depreciation, and amortisation in the second fiscal quarter.
  • 4 billion – Projected revenue for the combined entity of Mytheresa and YNAP by 2029.

Participants

NameRoleTypeDescription
MytheresaTarget CompanyCompanyA German luxury online retailer, focusing on profitable growth and preparing for the strategic acquisition of Yoox-Net-a-Porter.
Yoox-Net-a-Porter (YNAP)Selling CompanyCompanyCompetitor being acquired by Mytheresa, with expected integration into Mytheresa’s platform.
Michael KligerCEO of MytheresaPersonSpearheading the strategy and preparations for the acquisition of YNAP and emphasizing the importance of maintaining distinct customer experiences.