Luxury fashion platform Mytheresa has announced its plans to go public in the U.S. with a targeted valuation of $1.58 billion. The company aims to raise approximately $282 million through its initial public offering (IPO) by selling about 15.6 million American depositary shares (ADS) at a price range of $16 to $18 per share.

Based in Munich, Mytheresa is a digital marketplace that offers a wide range of luxury fashion brands to its customers. Some of the notable brands featured on the platform include Alexander McQueen, Fendi, and Gucci.

The decision to go public comes at a time when the U.S. IPO market is expected to be highly active in 2021. Following the successful IPOs of companies like Airbnb Inc and DoorDash Inc last year, a total of eight companies are scheduled to launch their IPOs this week, with a combined goal of raising nearly $5 billion.

Mytheresa’s ADS will be listed on the New York Stock Exchange under the ticker symbol “MYTE”. The funds raised from the IPO will primarily be used to repay debt associated with the bankruptcy of its former parent company, Neiman Marcus, which occurred last year.

Morgan Stanley & Co and J.P. Morgan Securities are leading the underwriting for Mytheresa’s offering.

Mytheresa’s decision to go public reflects its confidence in the increasing demand for luxury fashion in the digital space. By cultivating strong brand partnerships and offering a curated selection of high-end fashion, the platform has become a go-to destination for luxury shoppers. Going public will provide Mytheresa with the necessary capital to expand its operations and solidify its position in the market.

As the luxury fashion industry continues to evolve, online platforms like Mytheresa play a crucial role in connecting consumers with their favorite luxury brands. This IPO positions Mytheresa to capitalize on this trend and accelerate its growth in the highly competitive e-commerce market.

Overall, Mytheresa’s decision to go public at a substantial valuation reflects its strong performance and potential for future success. It will be intriguing to observe how the luxury fashion platform navigates the public market and continues to innovate in the ever-changing fashion industry.

Useful links:

1. Mytheresa Official Website
2. New York Stock Exchange Website