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 luxury e-commerce retailer said net sales rose 24.9 percent year-over-year to €157.8 million ($180.6 million), and gross merchandise value increased 29.7 percent for the first quarter ended Sept. 30 2021. Net income was €8.2 million ($9.4 million), up from €5.4 million in the prior year period. Mytheresa confirmed its full year guidance, but raised expectations for net sales to be between €700 million and €750 million.
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Mytheresa’s New Model for Working With Brands
The German online luxury retailer is introducing a new model that will see it hold inventory from brands without buying it and still get to carefully curate its offering to shoppers.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.