Mytheresa’s gross merchandise volume, the total value of orders processed, leaped 26.2 percent to 200.2 million ($277.46 million), versus 158.6 million euros ($180.2 million) in the same year-ago quarter. Net sales grew most in the U.S., where turnover rose 74.2 percent from the year-ago frame.
CEO Michael Kliger said the German platform is helping to fill a “void” in the American market for a “true luxury retail player.” He pointed to “particular strength” in California, Florida and Texas.
Active customers grew 30.2 percent in the past 12 months to 740,000, while new first-time buyers topped 120,000. Despite the shipping delays that have plagued retail, Mytheresa earned a strong Net Promoter Score (NPS) of 82 in Q2, signaling good customer loyalty.
During the quarter, the site launched exclusive capsule collections and pre-launches in collaboration with brands including Tom Ford, Isabel Marant, Givenchy, Acne Studios, Ami Paris, Christian Louboutin, and Bottega Veneta. Mytheresa rolled out the Curated Platform Model (CPM) to six brands, “with positive business impact” and 100 percent gross margin, it said. A 360-degree virtual reality popup with exclusive Moncler product also launched on Mytheresa.
Mytheresa is building a new warehouse at Germany’s Leipzig Airport to improve delivery times. It also now offsets carbon when customers order, separate from its fiscal 2022 carbon neutrality commitment.
Net Sales: For the three months ended Dec. 31, net sales rose 18 percent to 187.6 million euros ($213 million) from 158.6 million euros ($180 million) in the year-ago quarter.
For the six months, net sales jumped 21 percent to 345.4 million euros ($392 million) from 285.0 million euros ($324 million) a year ago.
Earnings: Adjusted net income rose 28 percent to 18.9 million euros ($21.4 million) from 14.8 million euros ($16.8 million) a year ago.
For the full fiscal year ending June 30, 2022, the company estimates GMV will increase 23 percent to 26 percent to the range of 755 million euros ($857 million) and 775 million euros ($880 million), with net sales in the range of 700 million euros ($794 million) to 720 million ($817 million) euros, flat to last year.
For the six months, adjusted net income was up 35 percent to 27.1 million euros ($31 million) from 20.1 million euros ($23 million) in the year-ago period.
Meanwhile, Kering saw fourth-quarter sales surge at Gucci as all of the French luxury conglomerate’s maisons “achieved sharp sales rebound way beyond their 2019 levels,” CEO François-Henri Pinault said.
In a CNBC interview Thursday, the CEO said he sees luxury customer growth coming from Asia and America. Inflation and import duties are largely responsible for sending average prices were up, he added. Kering is keeping an eye on how the metaverse could disrupt e-commerce.
Kering’s free cash flow from operations totaled 3.95 billion euros ($4.49 billion) in 2021 with little debt.
Gucci saw revenue growth climb 32 percent year-over-year, or 18 percent over the comparable 2019 quarter.
“Sales from directly operated stores rose by 35 percent relative to the fourth quarter of 2020 and by 25 percent versus the same period in 2019,” Kering said of Gucci’s performance.
For the year, Gucci revenue rose 30.8 percent to 9.73 billion euros ($11.06 billion) from 7.44 billion euros ($8.46 billion). As part of the overhaul of Gucci’s distribution, wholesale revenue fell 10 percent year-over-year and up 39 percent relative to 2019. Sales from the brand’s retail network grew 37 percent from 2020 and were up 10 percent from 2019 levels.
Yves Saint Laurent saw fourth quarter revenue up 47 percent year-over-year, with sales from directly operated stores rising 61 percent when compared with 2019 levels for the quarter. For the year, revenue rose 44.5 percent to 2.52 billion euros ($2.86 billion) from 1.74 billion euros ($1.98 billion), with wholesale revenue up 23 percent from 2020 levels and were up 6 percent from 2019 figures.
Bottega Veneta’s fourth quarter revenues rose 14 percent year-over-year and up 31 percent versus the comparable 2019 period. For the year, revenue exceeded 1.5 billion euros ($1.70 billion), up 24 percent from 2020 and 32 percent from 2019 levels. Sales from directly operated stores grew 29 percent from year-ago figures, while wholesale revenue rose 16 percent.
Fourth quarter sales at Kering’s Other Houses rose 34 percent, with sales from directly-operated stores accelerating sharply to up 60 percent from the same year-ago period. Other Houses include Balenciaga and Alexander McQueen, as well as its jewelry brands. For the year, revenue rose 43 percent to 3.26 billion euros ($3.71 billion). Sales from directly-operated stores were up 46 percent versus 2020 and up 40 percent when compared with 2019 levels. Wholesale revenue rose 40 percent from 2020 figures.
Net Sales: Kering revenues in 2021 rose 34.7 percent to 17.65 billion euros ($20.05 billion) from 13.10 billion euros ($14.89 billion). The retail network, including e-commerce, saw revenue rise 40 percent from year-ago figures, and up 18 percent from 2019 levels. “Sales growth accelerated in the fourth quarter of 2021, rising by 39 percent relative to 2020,” the company said. Online sales rose 55 percent, and accounts for 15 percent of total sales in the retail operation. Wholesale revenue rose 17 percent from year-ago figures.
Earnings: Net income for the year jumped 47.7 percent to 3.18 billion euros ($3.61 billion) from 2.15 billion euros ($2.44 billion).