The terms of the deal were undisclosed, although the investment leaves the fund as a minority stake holder. The remaining shares are held by the startup’s founders and managing directors.
Mytheresa, which was established in 2006, specialises in selling women’s fashion and accessories in the luxury designer category, and although established in Germany, targets an international market, both in terms of customers – the site exists in multiple languages including english – and the brands it buys in. The new funding will be used to consolidate the company’s foothold in Germany and accelerate growth abroad.
Unlike the plethora of discount buying clubs for designer labels that we’ve seen spring up across Europe and beyond, mytheresa focuses very much on the high end through its customer service and a personalised shopping service – “personal fashion advisors” even dish out fashion advice by phone.
The site currently carries the collections of over 120 luxury brands, including Burberry Prorsum, Christian Louboutin, Marc Jacobs, Miu Miu, Tod’s and Yves Saint Laurent.
Mytheresa claims revenue last year to be in the “tens of millions of Euros”.