German online luxury retailer, Mytheresa Group GmbH, has confidentially submitted documents for an initial public offering (IPO) in the United States, according to an announcement made by parent company MYT Netherlands Parent B.V. This move comes at a time when the COVID-19 pandemic has fueled the growth of e-commerce, particularly in the luxury sector. As the demand for online luxury shopping continues to surge, Mytheresa aims to leverage this trend and establish a strong presence in the global fashion market.

Details regarding the number of American depositary shares to be offered and the price range for Mytheresa’s IPO are yet to be determined. However, a Bloomberg report suggests that the company may be seeking a valuation of $1 billion to $1.5 billion, though this target could change based on the performance of the upcoming holiday season. Mytheresa boasts an impressive lineup of 250 renowned fashion brands, including Prada, Gucci, Burberry, and Dolce&Gabbana.

Originally founded in 2006 as an online shop by Susanne and Christoph Botschen, Mytheresa has a rich history. The couple had previously established a physical store called Theresa in Munich, Germany, in 1987. In 2014, luxury department store chain Neiman Marcus acquired the business. However, Neiman Marcus faced financial difficulties and eventually filed for bankruptcy this year. As part of its restructuring efforts, a portion of Mytheresa was transferred to creditors, enabling its exit from Chapter 11.

In a significant development within the industry, Mytheresa’s competitor, Farfetch, recently secured investments exceeding $1 billion from Alibaba and Swiss group Richemont. This infusion of capital highlights the increasing recognition of the growth potential in the online luxury retail market.

By filing for an IPO, Mytheresa aims to tap into the U.S. capital markets and enhance its growth trajectory. The company seeks to position itself as a dominant player in the luxury fashion segment and capitalize on the thriving trend of online luxury shopping. As the IPO process unfolds, investors and industry observers will closely monitor Mytheresa’s progress and evaluate its potential for success.

Useful links:
– Mytheresa website:
– Bloomberg report on Mytheresa’s potential IPO: