MYTHERESA FILES FOR $1.5 BILLION USD INITIAL PUBLIC OFFERING

Planning to go public by early 2021.

By Balthzar Malevolent

MYTHERESA FILES FOR $1.5 BILLION USD INITIAL PUBLIC OFFERING

Mytheresa, the luxury e-commerce giant, has filed for an initial public offering.

The German business plans to go public as early as the beginning of 2021 following the review process by the U.S., according to Bloomberg. Commission for Securities and Trade. While the company itself wrote in a statement that it has yet to decide a share sale size and price range, sources close to the issue have reported that Mytheresa is targeting a valuation of approximately $1 billion USD to $1.5 billion USD, although this is subject to change during this holiday season depending on the success of the company. The organization has already drawn interest from numerous special purpose acquisition companies during these early phases.

Mytheresa was established as a luxury store in Munich more than three decades ago. Its e-commerce company started in 2006 and has expanded to more than 700 employees since then, selling luxury goods to 140 countries around the world from more than 250 brands, including Prada, Givenchy and Gucci. The company was purchased for a price of approximately $253 million USD by department store operator Neiman Marcus in 2014, and was subsequently sold to Neiman's parent company, holding it safe from the recent bankruptcy of the latter.

In other news, Rick Owens drops Performa FW20 collection, made with overdyed, black-wax Japanese denim.

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