Mytheresa Proves Multibrand E-Commerce Still Works For Luxury Brands [Forbes]
Coupang, Inc. Class A (CPNG)
Company Research
Source: Forbes
end of the pandemic, luxury consumers have eagerly embraced in-person shopping again, to the detriment of online purchases and especially of multibrand e-tailers, currently in free fall,” wrote columnist Dominique Muret She observed that many luxury labels have “jettisoned” the channel in favor of their own monobrand stores and increasingly use their online platforms as a digital “assist” to get luxury shoppers into the stores. Against that backdrop, Mytheresa stands apart , ending fiscal year 2024 on June 30 with annual revenues up 10% to $935 million (€841 million) and gross merchandise value (GMV) topping $1 billion (€914 million). Average order value (AOV) was up too, reaching nearly $800 (€703) from $727 (€654) last year. Multibrand Luxury Retail On The Ropes While the decline in multibrand retail is felt most strongly in luxury department store channels – declining between 8% to 12% in 2023 – multibrand e-commence dropped about 1% in 2023 from 2022 levels. Overall, who
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CPNG
Earnings
- 8/6/24 - Beat
CPNG
Sec Filings
- 8/23/24 - Form 4
- 8/21/24 - Form 4
- 8/19/24 - Form 144
- CPNG's page on the SEC website