MyTheresa grows 24.4% in fiscal year 2019 while Neiman Marcus considers its sale

MyTheresa boosts benefit and continues growth despite uncertainty. The German luxury and fashion ecommerce platform closed its fiscal year 2019, ended June, with a revenue of 377 million euros (419 million dollars), compared to the 303 million euros (336 million dollars) in 2018. Also, the ecommerce group rose its ebitda 50% compared to its fiscal year 2018, while Neiman Marcus keeps in talks for the sale of the platform. The growth of the Mythreresa online business alone was up 24.7%. 

Michael Klinger, CEO of the group, stated that the fiscal 2019 of MyTheresa was a “highly successful year”, and explained that the good performance of the company during its last period was because of the correct strategy and the focus the brand has in its customer.

MyTheresa registered revenues of 377 million euros last year

Neiman Marcus, the American giant owner of the online platform since 2014, announced last may the plans to sell it to reduce its debt and focus in its other businesses like Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call and Horchow.

Founded in 2006, the luxury online platform counts with more than 500 employees, an offer of more that 200 brands and is present in more than 130 countries around the world. The group is awaiting its following steps as it continues to work in its growth strategy.