The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The German-based online luxury retailer’s first financial results as a public company showed the pandemic’s digital boost is still paying off. Net sales grew to €158.6 million ($194 million) in the quarter ending December 31, as the company drew a record number of first-time shoppers.
In the second half of 2020, net sales increased 30 percent to €285 million, with an adjusted EBITDA of €32.6 million up from €17.2 million during the same period last year. Net income was €25.4 million ($31 million), up from €2 million ($2.4 million) the prior year.
Mytheresa went public in January with a market value of $3.1 billion. The company’s share price was up 0.3 percent on Thursday morning. It has decreased 0.9 percent since first listing.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.