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On Monday 28 December, MYT, the parent company of online retailer Mytheresa, filed an application for an initial public offering in the United States on the New York Stock Exchange for up to $150 million.
Mytheresa is a German e-commerce website specialising in luxury fashion. This year, the retailer is one of the only ones to be able to thank the health crisis for enabling the massive increase in its quarterly sales.
Indeed, it would seem that the pandemic is not harmful for all sectors since it has led to a considerable jump in online shopping, especially for luxury goods.
Mytheresa recorded net sales of $154.32 million (126.4 million) in the three months ended September 30, representing a 27.5% increase in quarterly sales.
MYT also reported that Mytheresa recorded a net profit of 9.6 million euros, compared to a loss of 4.3 million euros a year earlier.
The health crisis then allowed the online sales company to go public on the stock market. At the same time, MYT also announced that it has filed an application for registration with the Securities and Exchange Commission ( SEC ) to offer its initial public offering.
Read also > SECOND-HAND ONLINE SALES: LUXURY PRODUCTS INCREASINGLY ATTRACTIVE THROUGHOUT CRISIS PERIOD
Featured Photo : © Mytheresa[/vc_column_text][/vc_column][/vc_row]
