How MyTheresas Marketing strategies lead to success, The concerns of brands and consumers provide an opportunity for MyTheresa. customers who are/ will purchase luxury products regularly. People went online, but it reflected this forced-upon change in lifestyle. The average customer shopped approximately twice per year and spent approximately 900. SG&A is, in contrast to COGS, mainly fixed costs. Certain handbags may be good for 10 years, but ready-to-wear cycles are shorter. covered by such forward-looking statements involves known and unknown risks, uncertainties and We dont we look at it as an opportunity for us, Kliger said. (On Desktop, Worldwide). The U.S. is a very attractive market for luxury, said Mytheresa CEO Michael Kliger, in an exclusive interview. Focusing on strategy and leadership, the book examines tech companies successes based on a unique framework People, Organisation, Product and Leadership (POPL). This statement, originated in academia, is built on two important assumptions: investment opportunities must have the same mathematical expectation (range of all possible relative outcomes including negative, taking into account the probability) and not to have cross-correlation (i.e., the movement of some securities should not repeat the movement of others).However, this does not happen in life, and we are forced to work hard to find attractive opportunities for capital investments. Grow your traffic share per keyword and understand how SEO and PPC investments can be optimized with Similarweb's Digital Marketing Intelligence solution. Asset turnover at the end of 2020 increased to an impressive value of 1.25. Before the pandemic, Mytheresa held dinners for clients with the likes of Stella McCartney, Victoria Beckham, Olivier Rousteing of Balman, and Caroline Herrera creative director Wes Gordon. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You must click the activation link in order to complete your subscription. of April to June. I am not receiving compensation for it (other than from Seeking Alpha). CAC accounted for approximately 85% of our total marketing expense. premium lifestyle and luxury products, and the online market for premium lifestyle and luxury mytheresa.com's audience is 32.05% male and 67.95% female. We prefer to focus on a few companies with high potential growth and near-zero risk of loss invested capital rather than excessive diversification that only reduces profitability and increase the risk. Identify the geographic location of a site's core audience over the last month. The platform features more than two hundred such popular brands as Loro Piana, Bottega Veneta, Dior, Valentino, Gucci, Prada, Givenchy and others. A lot of consolidation is happening. companies such as Net-a-Porter and Barneys New York, thus we are extremely delighted to welcome The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce, and enterprise-grade order management. We have identified 6 decision makers for you to contact at Mytheresa.com, including Executives, Strategists, Media Buyers and Agency contacts. Why not turn these clothes into money, or why shouldnt that piece make someone else happy. To demonstrate its commitment to the category, it unveiled a mens boutique in April 2020. Its a set of priorities. (On Desktop, Worldwide), See the list of top organic keywords driving traffic to mytheresa.com. In their prospectus, their value proposition to their customers are (i) trusted discovery platform, (ii) exclusivity (iii) superior services for a differentiated shopping experience and (iv) special brand experience for their top customers. At the end of 2018, this item of expenses also increased significantly precisely because of preparations for the sale of shares. (On Desktop, Worldwide). The bigger brands that offer fantastic knitwear, can switch to dresses., Kliger said Mytheresa has a history of pivoting, and chasing new opportunities. Mytheresa (www.mytheresa.com) is one of the leading global luxury fashion e-commerce platform. Mytheresa was launched in 2006 and offers ready-to-wear, shoes, bags and accessories for women, men and kids. I spoke with a Momentum Works commuity member who is close to this market. By comparison, Farfetch's revenue for the same period grew 41.3%. Designer Tom Ford recently had a high-profile collaboration with Mytheresa and received rave reviews from fashion magazines such as Robb Report and VOGUE. - A partnership with leading WSJ (Wall Street Journal) magazine on the digital event The One In particular, in the trend-driven industry, the company has to constantly update their model in order to catch their key audiences. Thanks for readingThe Low Down (TLD), the blog by the team at Momentum Works. I am ready to increase my stake If a sale starts in the market. The world of personal luxury goods is built on two principles: exclusivity of the offer and service. Mytheresas aggressive expansion strategy to increase brand awareness and market share both in Analysts often compare MYTE to FTCH. 'x_0J ZPeK[`l RY(nDe JsNl4~=fx8/Bsc! Mytheresa uses past data including payment method, location, categories they usually visit, etc to analyze customers and predict their future behavior. Lets say we have two companies with the same expected return, but one carries a risk of capital loss of 5% (suppose that risk is measured exclusively quantitative indicators, although this is not the case), and the second - 1%. All Rights Reserved, This is a BETA experience. We will probably see a decrease in the share of GA expenses in revenue at the end of 2021 to at least 3%. These experiences include collaborations with stars, capsule collections and personal meetings with designers. Mytheresas unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. While many Fashion Houses have resisted change, the COVID-19 pandemic has forced them to seek new ways to connect with consumers in the digital space. mytheresa.com's top competitor is farfetch.com. The top social media networks directing traffic to mytheresa.com are Pinterest, Youtube, and Linkedin. At Mytheresa, we promise to treat your data with respect and will not share your information with any third party. Thus, I expect that MYTE will continue to reduce the share of SG&A expenses to revenue. 512-794-8876, Internet Explorer presents a security risk. Our contacts database includes full names, email addresses, specialties, agency relationships and phone numbers, and we verify each contact every 90 days to ensure you have the most current information. health development, such as the COVID-19 pandemic, and the resulting business disruption, Verify your website's traffic and engagement metrics by connecting to Google Analytics. AfterDigital banks in Southeast Asia(coveringIndonesiaandMalaysia) andWho is Nubank reports,we wanted to cut through the noise in the space and condensed key learnings from leading digital only banks in the world, as the third installment of Momentum Works digital bank series. This is one of our key characteristics, that we offer top customers access to the luxury world, Kliger said, adding that hes looking forward, post- Covid, when the events can resume. In my opinion, Mytheresa (NYSE:MYTE) is one of the few e-commerce companies whose public offering has not been noticed by the market. Take a peek into the rarely examined space of Chinas rapidly growing tech companies and the leadership teams that help them thrive. Cryptos Boom Bust Cycle only its different this time. How can I sell this without too much paperwork and feeling like Im an eBay seller., Some Mytheresa clients have separate rooms for their clothing. Not only the product is important, but also the once-in-a-lifetime experiences. Please. or circumstances after the date of this press release or to reflect new information or the occurrence products in particular; and other risks we describe in our filings with the SEC. Over the last three months, mytheresa.com's global ranking has increased from 7,624 to 5,807. MYTE is actively integrating the world's fashion houses into its platform. Probably niche e-commerce companies could go the Etsy (ETSY) scenario: release a report of great results, but predict a decline in revenue growth in the next quarter and disappoint Wall Street (as if it were a surprise to someone that the growth rate of e-commerce companies will slow after removing the lockdown). Despite the presence of such market players as MATCHESFASHION, Farfetch, Net-A-Porter, SSENSE, LuisaViaRoma, Mytheresa has no direct competitors. Also, pay attention to general and administrative expenses. I buy call options ahead of the next company report. Please disable your ad-blocker and refresh. In January of this year, Mytheresa successfully completed IPO at a valuation of $2.2 billion. In the 2020 fiscal year, MYTE has undertaken a number of different money-cant-buy experiences to inspire its customers and create a close relationship with them. I strongly believe well look back on the last 12 months and say, That was a pivotal moment.. personalities. You should not rely upon forwardlooking statements as predictions of future events. At the end of 2020, they increased from 10.437 thousand to 15.517 thousand, or from 2.8% of net sales to 3.5%. Theres this desire for curation, someone doing the hard work and saying, So youre interested in a black clutch and floral dress, The pandemic has accelerated consumers migration online, Klieger said. whose public offering has not been noticed by the market. You may opt-out by. Visit insights.momentum.asia to find out more. continue, could, estimate, expect, intend, may, ongoing, plan, potential, predict, . Part of the proceeds was used to replenish working capital. Need to identify deeper audience insights? These are the real problems that luxury brand and their custormers face- i.e the lack of trust, care, and cultivation of the relationship. Impulso is Momentum Workss exclusive community app that connects people, knowledge, and insights. Their approach creates a cycle as the brands are attracted to these wealthy customers and therefore these luxury brands will give MyTheresa special offers. It is a multi-brand e-commerce company of personal luxury goods from Munich. In Q2 FY2021, revenue growth accelerated to 46% YoY. Moreover, the coverage ratio is 3.6, nothing threatens MYTE's solvency. The retailer aims to bring an elevated mix of ready-to-wear and accessories to its clients. I buy call options ahead of the next company report. According to Deloitte, aggregated revenues of personal luxury goods companies increased by 8.5% in fiscal year 2019 to 281 billion. Part of the proceeds was used to pay off MGG's debt on revolving credit facilities and the obligations of subsidiaries related to the bankruptcy of Neiman Marcus. According to the results of the second quarter, MYTE significantly accelerated its growth, but the market did not revalue it. Follow this author to improve your content experience. Photo by AlexandrBognat/iStock via Getty Images. Website ranking helps evaluate the value of a business. designer, celebrated author, culinary and visual storyteller, and creative director. Mytheresa is a global online leader in the luxury segment with a high bar for quality experiences on their site. Thus, I am confident that Mytheresa will continue to reduce the share of marketing expenses in revenue by reducing the cost of attracting customers, increasing profits from a comparable cohort, as well as the ability to retain customers. million Euro and shipped to 133 countries. as Net-a-Porter, Borderfree, Barneys New York and most recently as Chief Brand Officer of direct-toconsumer startup M.Gemi. YmoF_%P8iLE [`\Mp("7!zqtf)GMA.wfmYz9*^:dHVcn&"[9-K~GAh3MIR>t*=w:WUq+F"/6DYt8akAkxcG5]9\e jF=+:c2c9l\xHj-8| %S~_E^W(K$3+XIFS +IEA$^%> V+T)%Eb*A:( P RBX,QD$MD"h% I expect the company to continue to grow its revenue and also significantly improve its financial performance in the near future. As we can see, every percentage in the Mytheresa cost item matters to us. The decrease in the share of SG&A expenses is due to the growing sales of the company. 2022 Forbes Media LLC. I like growing companies with a competitive moat. Is live commerce the next big thing in Southeast Asia? than 200 of the most coveted luxury brands and unparalleled, personalized customer experience for (On Desktop, Worldwide), Currently, there are 35 websites receiving traffic from mytheresa.com. Resale isnt on the table now, but Klingers aware of its growing popularity. They have neen using a number of strategies to promote MyTheresa as a trustworthy high-end luxury e-commerce platform I spoke with a Momentum Works commuity member who is close to this market. On the customers side, most e-commerce platforms sell speed and efficiency, and hard to show a luxury brands care for their customers. They can research products directly from the showroom. Mytheresa (www.mytheresa.com) is one of the leading global luxury fashion e-commerce retailers. After huge pandemic gains, why are tech companies laying off workers? Of these, 49 billion was accounted for by e-commerce, which is almost 15% of the total market (+48% in 2020 in relation to 2019). mytheresa.com's top competitor is farfetch.com. Below is the LTV/CAC ratio by Customer Cohort Over Time. This is normal for a growing business. Wider range of expectations of the first company only increases the overall risk portfolio. our ambition to become the leading curated platform in luxury fashion.. It is generally accepted that the increase in the number of securities in the portfolio certainly leads to a decrease in the total investment risk. Will InDriver dislodge Grab & Gojeks ride hailing duopoly in Indonesia? She will be responsible for all Mytheresa customer facing activities in the North American market including Personal Shopping, Communication and Affiliate Marketing. To opt-in for investor email alerts, please enter your email address in the field below and select the Investor Alerts option. men and kids. I/we have no positions in any stocks mentioned, but may initiate a long position in MYTE over the next 72 hours. The highly curated offer focuses on true luxury with designer brands such as Bottega I expect we will see a decline in asset turnover to 1.0 in 2021. campaign emphasizing Mytheresas unique positioning combining a highly curated selection of more At the same time, the company knows how to retain existing customers. For years, Mytheresa catered exclusively to women, until last year, when it launched mens wear. Theres clearly a need for these platforms to clean out the wardrobe, so to speak, Kliger said. Ten percent of our business is in mens wear after a year, Kliger said. More often than not, lenders assess the cost of capital of growing companies not by book value, but by market value. In FY 2020 Mytheresa reported net sales of 449 million Euro and shipped to 133 countries. ur MW community member pointed out that there are quite a number of good stories and numbers in their IPO prospectus. You can say that these are insignificant numbers. I expect Mytheresa to significantly increase its net profit margin and ROE by reducing the share of SG&A expenses in revenue. Last year, it rose from 10% to 12%, and its poised to reach 30 % by 2025., Since the Covid-19 pandemic, theres been a shift in consumer demand for luxury fashion. Try our Digital Marketing and Research solutions to discover deeper data including: Forecast industry changes, understand your audience and your competition, and grow your market share with Similarweb's Research Intelligence Solution. It is a I am While digital retailers are benefiting from store closures, luxury brands such as Mytheresa are missing the impact of red carpets, which have all but ceased to exist during the crisis. MyTheresa is the tech darling of the quarter (not sure what will happen next quarter), but there are many interesting innovative lessons in providing differentiated customer experience regardless of the industry. The number of shipped orders increased by 20.6% compared to the previous year. The highly curated offer focuses on true luxury with designer brands such as Bottega Veneta, Burberry, Dolce & Gabbana, Fendi, Gucci, LOEWE, Loro Piana, Moncler, Prada, Saint Laurent, Valentino and many more. In 2020, the number of active clients increased by 21.7% to 486,000 people. mytheresa.com's traffic has increased by 9.60% compared to last month. The sales geography includes more than 140 countries. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. In some cases, Stefanie Muenz Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and deliver on customer expectations at a manageable cost of ownership. MUNICH (April 21, 2021) Luxury e-commerce platform Mytheresa is delighted to announce that Brands with multiple product categories are seen as making a swifter transition to some measure of pre-pandemic business. mytheresa.com's audience is interested in Lifestyle > Fashion and Apparel & shopping. An underutilized channel is "mail." With the current ratio of the company's assets to its capital (4.89), as well as with an asset turnover of 1.25, an increase in the net profit margin by 1% will lead to an increase in ROE by 5%. European consumer sentiment is improving rapidly, Kliger said. 92% response rate by their customer service team within 20 seconds and are expertly equipped to assist our sophisticated luxury customers. Investment is a gold washing process (it is desirable that the prospector also possessed Picasso's view on everyday things). Mytheresa has grown men's wear to 10% of total sales in one year. Is this happening to you frequently? I expect the company to continue to grow its revenue and also significantly improve its financial performance in the near future. The company trades at a solid discount on EV/Sales to its main peer. In 2019, Shangpin announced their bankruptcy as they lost trust from both consumers and brands. Michael Kliger, CEO of Mytheresa says The US is an important growth market for Mytheresa. At the end of the day, balancing your customers base (upcoming and affluent), maintaining brand affinity and being profitable are all the pieces any businesses that want to stand out from the mass market experience. Mytheresa injects exclusives into its buys that other players dont carry. At the end of Q1 and Q2 FY2021, we saw a decline to 37.8 and 37.6%, respectively. Use MediaRadar to stay current on new product launches for Mytheresa.com. I wrote this article myself, and it expresses my own opinions. For top elite customers, they go one step further to personalise their experience through money-cant-buy-experiences , personal shoppers and in-person styling suites across the globe. Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as Mytheresa operates in a growing market, and its focus on high-end luxury has deprived the company of direct competitors. - A digital and social media collaboration with Athena Calderone, a distinguished interior We even had a capsule collection of Jimmy Choo x Marine Serre, with pieces only available at Mytheresa, and we ran customizations with Guccis Ace sneaker with monogram inserts. sustained economic downturn and margin pressures; our ability to maintain and enhance our brand; The share of selling, general & admin expenses in the company's revenue have always remained relatively stable (about 40%). of unanticipated events, except as required by law. Currently, there are 801 publishers referring visitors. One month later, it is sitting at $32.81 still pretty decent. She told me that MyTheresa focuses on a very specific customer group i.e. In the first 6 months of the current FY2021, Mytheresa reported for the US a PwC Cloud and Digital Transformation BrandVoice, 4 Steps To Help Your Kids Build Smart Money Habits, How To Earn Cash Rewards For Everyday Spending. I dont want to wear it for whatever reason, but someone else can enjoy it. value proposition and to deliver the first-class shopping experience that our customers expect. Their CGO, Ren Guanjun, said last year that indicated that pure luxury e-commerce has no future as platforms are not manufacturers of luxury goods. About Mytheresa The company is still trading at a discount to its peers. The company raised about $407 million. Mytheresa named Heather Kaminetsky president of North America and launched a brand awareness campaign with a focus on the U.S. market. Heather Kaminetsky adds "I am thrilled to join Mytheresa leading the business in North America. With a large number of players entering the fray from incumbent banks to fintech and diversified big tech players, competition is heating up. Seeing the Unseen Behind Chinese tech giants global venturing.
amended, including statements relating to the our expansion and growth strategy.
I expect the company to improve its financial performance this year by reducing SG&A expenses in revenue. We are facing a growing market that has shown permanent growth over the past 15 years. The velocity of sales depends on when charities come back. According to the results of the second quarter, MYTE significantly accelerated its growth, but the market did not revalue it. mytheresa.com receives traffic from direct (40.39%) and search (26.51%). The country sending the most traffic to mytheresa.com is United States.