Mytheresa records improved sales on strong US market, record average order value

Mytheresa announced on Thursday annual sales rose 9.8 percent to €840.9 million, on the back of a stellar second half, which registered double-digit growth at the Germany-based luxury retailer.

The Munich-headquartered firm clocked 7.1 percent gross merchandise value (GMV) growth to €913.6 million for the year ending June 30. 

Special mention was given to the U.S. market, where sales grew 25% annually, as well as a strong increase of average order value (AOV) to a new record of €703 during the year.

The annual sales growth came on the back a second-half sales increase of 13.8%, and a 9.7% sales growth in the fourth quarter at the luxury firm. 

Mytheresa narrowed its bottom-line loss to  €3.6 million in its fourth quarter, compared to a loss of  €5.4 million euros in the year-ago period. Adjusted net income in the fiscal fourth quarter grew to €4.5 million, from €1.1 million in the year-ago period. The adjustments include one-time effects such as share-based-compensation, transaction-related costs and legal costs.

“We are very pleased with our performance in the fourth quarter as it drove the continued very positive momentum for Mytheresa in H2 of fiscal year 2024 with double-digit growth and almost doubling of profitability compared to prior year. We are very pleased with our full fiscal year 2024 results,” said ​Michael Kliger, chief executive officer of Mytheresa.

“With our record average order value, high customer satisfaction scores, strong growth in our top customer revenues and many extraordinary top customer activations together with brands we have strongly reaffirmed our position as the best high-end luxury digital platform. Mytheresa builds a community for luxury enthusiasts. We create desirability through digital and physical experiences.”

Looking ahead, the firm said its expects its full-year GMV and sales growth to be in the range of 7% to 13%.