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MyTheresa files registration statement with SEC

By Kristopher Fraser

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Business

MYT Netherlands Parent B.V., the parent company of the Mytheresa Group GmbH, has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of American Depositary Shares representing its ordinary shares.

The number of American Depositary Shares to be offered and the price range for the proposed offering have not yet been determined.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as lead book-running managers and representatives of the underwriters for the proposed offering. Credit Suisse Securities (USA) LLC and UBS Investment Bank are acting as book-running managers for the proposed offering. Jefferies Group LLC is acting as co-manager and Cowen Inc. is acting as passive bookrunner for the proposed offering.

The SEC registration statement showed that in fiscal year 2020, members of MyTheresa’s Top Customer program on average purchased from the e-tailer 16 times, with an average order value in excess of 935 euros. 30 percent of gross sales came from the 2.6 percent of customers who were part of the Top Customer program.

MyTheresa also aid they have retained 100 percent of all brand partners they have acquired including Alexander McQueen, Gucci, and Balenciaga. In 2020, MyTheresa generated approximately 19.8 percent, 39.8 precent, 10.3 percent, and 30.2 percent of net sales from Germany, Europe (excluding Germany), the United States and the rest of the world.

photo: via mytheresa.com

Mytheresa