MYTE - Earnings call transcript Q3 2021 | MYT Netherlands Parent B.V.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings and welcome to the Mytheresa Third Quarter Fiscal 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's call is being recorded. And we will have a lot - we have allotted one hour for prepared remarks and Q&A. It is now my pleasure to introduce your host for today, Martin Beer, Mytheresa's Chief Financial Officer. sir. you, Thank ahead. Please go

Martin Beer

operator call and XXXX. Mytheresa's you, Kliger. everyone me welcome the third conference Michael for CEO, year is investor quarter today Thank our to of With fiscal

cause like we forward-looking forward-looking in the forward-looking results risks uncertainties, no include comments actual statements to Before are Any factors quarterly we'd remind that report. to today to statements. expectations our about duty make materially. described statements. including subject differ and our We're you, Many we and uncertainties will discussions are could to and begin, risks under update

In on will to this not measures IFRS addition, we certain in financial call. with refer accordance reported

non-IFRS turn can to website Investor our measures Relations in release, the Michael. investors.mytheresa.com. on You these earnings will I call our reconciliations at find over now financial which of press is available

Michael Kliger

quarter. year two-year in the rate is for growth XXXX. We fiscal third behavior of accelerated of Even in strongest third both shift side, you, strong taking the our quarters the of performance. the fiscal for across very a business. warm fiscal clearly from areas the welcome growth today. lower you quarter of again as towards account, financial of achieved the we of of continued share XXXX, QX by call growth of you shopping as We Also I to second the well year Thank results all two-year rate into all thank joining you the quarter, to in one digital, terms of quarter had, delighted the consumer benefit from with Martin. versus and my many in evidenced our of the to ever records which shaped comparables third XX% am XXXX was year the operational XX% that

as a rapidly While the as sentiment, in improving year as of continue also positive prepare began deliveries social March, such to saw we events store markets, closures many for as well and customers benefit in versus effects to from vacations. occasions, we better last consumer post-pandemic

start my both platform in strategically well gives that clearly the stating fantastic to growth as capitalize positioning short-term curated me both Let by long-term and as our market. as strategic financially multi-brand position a on review a luxury us our opportunities

Our continue of We model. also to brand significantly a this success Strategically, trend has based and continue. continues to in will a from on is but slower pace luxury the it driver sharp business consumer over focus, be important in believe which for offline most maybe profit-making demand been focused XX continued customer will our shift business the the accelerated last luxury, world, strong at months. online, the a partnerships, post-pandemic

In offline expected recent fact, fashion. stated, research that traditional in to a retail reversal there's by little McKinsey

appeal to attuned important multi-brand focus provide our to very spending multi-brand Alexa most segments which the is us pure the second big customer our believe the we continue terms The a strong the that of the business and wardrobe-building offer. base, popularity curated duration desire will the driver is offer, on customer show Rankings by multi-brand mono-brand with best highly attract to difficult and of customers for for and site Furthermore, Even traffic luxury. offers in offers.

Finally, we believe that future business for our perfectly developments. focus any on model is profit-making aligned

with a to our solid base customer high continue and cost our ability The dependency majority scale very stable to full delivered on activities. price on fully profitability. variable. share, promotional us little consistently the costs. have This to reduce gross together prove acquisition We And margins put of basis allows is we of rapidly

highlights quarter of of out call for you. me the let some business past this Now

the compared geographies with outstanding to to growth expansion. QX I We net sales, fiscal First the XXXX. sales The the of are And sales believe a grew our in significant fiscal net increase QX previous XX% year still progress continue in all year we of in year period. Group net highlight in XX% global there make across United we with share want of of in significant that States States XXXX. United But over all, to headwinds. of plus had XX% a

our have team We Mytheresa and June out brand of new of local in accessibility for our appointment to announced America customers. recently the build as XXXX. the Heather United for will her North Xst, of President Heather States Kaminetsky as increase awareness

have beat customer LTM again new fueled customer active record by was fiscal QX of we number to This first-time significantly in over our QX XXX,XXX. we expanded the of year Second, of actually our growth, XXX,XXX. exceptional XXXX, by base XX%, buyers year-over-year surpassing

We stressed is whether us of and new quality. are the healthy there indicator the debate for of customers important most have always some quality the cohorts lesser that for growth, acquired new was

our fiscal year fiscal We fiscal are QX customers XX% better quarter, quality or a even acquired increase by year-over-year spend up cohorts repurchase not acquire QX XX% and XXXX the with thus only the very Furthermore, we in did year of significantly new show year QX in significant our that saw in of year in customers, behavior customers third XXXX of top average QX spend also to XXXX. high the the average of XXXX. of uptick to customers cohorts to a achieving satisfied report their of all in same compared by we rates new fiscal in

of partners in always XXXX. styles executed we again, first rely x two product in trust collections invest stressed as this pre-launches and and Simone exclusive Marine Loewe. fiscal Serre We brand honored relationships. we such The Bottega capsule very have of we Toteme, brands the well was Jimmy create time Attico brought Jimmy for Marine Third, to Mytheresa. year Rocha, Burberry, Choo, as with as our and together Serre designers outstanding support Veneta, were and The exclusive We launched Choo collection x QX that outstanding from brand

Eyewear also luxury the campaign on the trade of we launched covered and ran craftsmanship Finally, mention website QX in brands. Italian highly and we with together Italy We a Italian design Love want our to called, agency Dior that the showcasing

a employees the - we were any our in increase and again, third a from return across as in designers Vivier, of consistency There's to Repossi Mytheresa customers. on Also competitors. average execute declining XX% the achieve fourth from XXXX. versus women's all the Roger even operational Promoter further we in QX of stable And across maintained ability to top our rapid Score customer the Ortiz, health gross with we we our significant We held in rates in top improved nevertheless fiscal and all again the gross discuss priority And in in over of order Rocha QX, for womenswear our our digital Johanna showed our stable growth if not we that our demonstrated of to guidance third highly and and surprise operations decreased the With the online, ratios no Fourth, While in physical improvements. and are customer year with satisfaction, quarter I activities year events contrast shift Simone to measured benefit We evidenced sentiment of Martin performance. promotional and This margin, margin financial fiscal with ongoing costs, further in business very fourth all and focus continue well-being wave continuity able Germany the department. with deliveries detail. as and now, come pandemic correlates value should improving customer reliance quarter, of all during operations. the it as quarter some the of to XXXX. acquisition Europe. our by demonstrated stability, Net internally achieved strong confident not results hand to to to above, much the middle events

Martin Beer

quarter Michael. the you, financial topics Unless now some I'll additional I for on key refer detail third the of numbers Thank the mentioned. and provide otherwise results to euro. stated, previously review all will fiscal

during pleased of strong new net quality significantly we above the Where and proven without to customer highlighted, customer our Michael third growth the any quarter, business strong due robust could compromise third with are profits. quarter our With clearly existing our performance. we scale performance expectations. growth sales model, we on the core delivered As in very

to as months our retention, During the X,XXX,XXX. by total to by year XX in or XX.X% our year-over-year who EUR XX.X% orders and It total months by last million of EUR by million customers XXX,XXX. increased grew million. to XXX.X shipped. continued the Cost prior shipped engagement sales with increased net XX.X% EUR sales growth last or third active our strong to XX.X% us period, quarter, XX XX compared And driven increased the in XX.X customer strong the shopped see to in by orders

or a of compared net increase XX.X% profit of XX.X increased third ago. in of the an percent Gross a million of to due As was at sales, XX.X% Gross year cost profit slightly EUR up shifts to declined quarters. XX.X%. the sales Gross in EUR quarter, year XX.X% XX.X million, of XX.X% to QX previous prior period year margin compared slightly year-over-year. seasonal profit slightly below was margin between

costs For the EUR to full fiscal total an shipped. increase X.X margin grew is EUR million, gross million Shipping and XX.X in by expected. by profit orders driven year, payment a stable

a net remained sales, quarter internationalization. costs stable continuing this at and payment in As shipping despite percentage of XX.X%

XX.X quarter, increased efficiency In by drive marketing million. third to to continue We spend. in XX.X% EUR marketing our the expenses

percentage net marketing from sales, of in the period. XX.X% a As year XX.X% to prior decreased expenses

the driven campaign public well marketing these COVID efficiencies are of the by from on productions. as Some events tailwinds increased restrictions and as pandemic,

remaining related compensation million, to and EUR new transaction. expenses to and hopeful to EUR share-based execute consider these We XX.X not million next EUR driven granted awards expenses one-time to fiscal by do in predominantly grew the to IPO operating to year. are marketing one-time and events be compensation of expenses IPO. general our the XX core campaigns for as as net and relate granted XX granted a million they relation year indicative effect in them more of the Selling, by performance we We share-based adjusted administrative

X.X only points cost expenses share-based share-based million to a adjusted transaction and is the line the therefore as preparation incurred percent Adjusted amortization the The This months net this of million and Adjusted XXX net top expenses loss and EUR IPO of sales EUR in and X.X of million grew income a EUR EUR excludes preparation basis million XXXX EUR EBITDA XX.X% year at efficiencies period. costs and we million. period EBITDA net in operating fiscal X and to up March ended adjustment, X.X and million XX.X% EUR the to X.X XXst, EUR year loans, by costs. to transaction the in Depreciation on this constant, EUR granted year EUR one-time costs, prior EUR as million and Including of to compensation loss in compared XX.X million X.X prior compared XX despite Adjusted marketing as the X.X net X.X Adjusted IPO unadjusted, quarter by million, transaction was shareholder margin were driven XXXX period. one-time due loss adjusted line to million strong and of ramp QX for Excluding the cost X.X% expenses, in company XX.X of of quarter. was extended decreased an a three weak million. expenses the X.X performance year compared an year EUR net IPO prior to million EBITDA granted costs. income net compensation by to compared finance prior public from exceptional leverage. top preparation SG&A EUR SG&A a a sales. as

simple always continue very adjusted clearly income P&L, are and business model. focus visible We minor adjusted income growth, and easily on operated adjusted are a growth remains with net which and EBTIDA, and adjustments. EBITDA, to We've non-IFRS and measures. high only delivering comprehensible profitable profitable operating transparent

Moving cash to the statement. flow

an EUR other in by EUR March During as decrease in result and other continued in as a payment other timing trade activities decrease XXXX, a million EUR equivalents, as in and million XX.X X.X driven purchases. of payables liabilities, for the increase nine-months our XX.X while inventories anticipation and EUR sales and is in payables and other ended decreased line million X.X sales, million inventory cash as assets. million a of in The increase increase EUR a strong with well operating primarily XXst, used in XX.X inventories and exceptional trade cash growth

March of quarter QX IPO a In shareholder the as liquidity, with and million million, terms EUR the In debt financial position, fully equivalents fiscal repay XXX.X used XXX.X strong total XXXX. million million of of XX now loans of are year completely and credit unused of facilities we cash ended of proceeds to also the the XXst, in revolving EUR cash EUR availability our the EUR net under and XXXX, from free. XX we

to behavior, into from as XXX current Turning we in full see stay well lines EUR But expect sales million. for from net expectations earlier our on to several new as benefiting trends closures fiscal XX%. XX, growth world, the a we cohort been strong. customer existing of our tailwinds XXXX. top year-over-year fiscal year of now to and 'XX XX% translates million QX, year, June on we 'XX regions range Therefore, have the deliveries. EUR the we to and This quality restrictions positive related a raise we customer very COVID ending expectation effects the and to winter fall bottom XXX these positive fiscal In our trends in believe to store

slower to the luxury between shopping fundamental online million shift EUR adjusted EBITDA, on EUR full and XX will that the X.X%. EBITDA continue, fiscal and of rate. increasing believe X.X% 'XX adjusted Regarding maybe to We in we at expect finish an margin a share between market And year the therefore, XX million. growth

longer-term, X%. turn just we over targets net to I X% margins and sales the adjusted XXs, to will to his remarks. growth, low call of sticking to For our mid for stable the Michael of EBITDA are back around concluding now

Michael Kliger

you, Thank Martin.

brand above expectations. We ourselves was see third advantage We the report, is, to the take of in strong digital quarter deliveries opportunities which the and delighted earnings with short-term by the perfectly positioned partners. market. the to our That shift are strong truly better

that continue will annum XX% the strong and maybe at guidance We per perfectly for have market. the ourselves thus year of the positive it see world. but a And positioned full the with in We EBITDA fiscal up long-term And us continue, take And advantage growth to trend a to for pace, opportunity to in to digital like lower our margin. towards the believe operator with XXXX. continued platform your see I'd we we XX% ask raised multi-brand also continue to that, post-pandemic open ahead of therefore, questions. with the to stable will

Operator

Morgan Kimberly Instructions] Your [Operator first from question Stanley. from comes Greenberger

is open. line Your

Kimberly Greenberger

quarter. Fantastic thank you Okay, much. so Congratulations.

really opened. quarter here. Obviously, in about this here results ask December I you're I debut wanted we quarter is are the your think or quarter. seeing what are to got in earlier, really, fourth fully reopening but nice the markets that that

have business reopen us color just that? performing you're spending for your market? been and For can example, read example, a that through the I'm to you give sort watching spending, the business back shops any How the shops? there on five your I is Europe going if in ebbing way think of you're is UK shift you wondering can how from opened that flowing as if about luxury there Is that seeing extract for is now weeks.

Michael Kliger

to do so. Sure, Kimberly, happy

the hand, what over commented, and that, in a in particularly, have weeks, seems just we shift behavior. there to couple on last As the already permanent be digital, the to of is QX also shift one seen

event profiting believe saw bridal moment demand significant what from clothing, whole sector is we So, and the to may digital was think that. the pent-up not shift element that, vacation a the while going if demand, see second see positives in clothing, and to consumer and I that always the online clothing judgment shift we pace, and overall more the the about is And there pent-up is we see shift I behavior. the believe is forward of there so acceleration at is permanent for

from So, us. open, the stores also they benefiting as but that

this driving view And sentiment so clearly and what this behavior currently online, also what guidance we from positive that as this is to of and the - shift consumer QX therefore we extrapolate which, QX. in our also into June our but year

Kimberly Greenberger

really, really encouraging. That is

thinking to Just think stacked pent-up should you or been you're any preliminarily on seeing? of astounding in revenue And style? at then second as into example, inventory next on year look share year? know, with us we year chase the you're just good you quarter fiscal positioned that this say would upcoming you're as over we growth has like in like to reopening, XX% growth I'm absolutely you that the what as Do your sort for demand the, medium-term the feel a is have about a not year. you the for and well lapping the sure one years, two-year an how you any quick saw, about color think of that that guidepost two Thanks. Are for growth able Or about let's if follow-up for you that. sort upcoming

Michael Kliger

best, Will fiscal have a weeks still deep still current go. much we're Kimberly very we try couple my to into the of year as

we world buying events of, winter Regarding where chasing our made buy inventory, will back shifts, always But in a to I well We advance. much fall be nevertheless, in the into we more our very we we're the will buy never continue social place, in, an will high where has for come we without luxury we secured - back. will teams mean inventory world, end weddings basis because that's take were be feel to on always, take that coming assumption those place. prepared

be this but when course, well high vaccination to able to precisely attitude, dresses. heels for the rates feel we continue to being to prepared So of will back level, of not rebalancing we buy with predict that sufficient

spending renewed this those and take on should And so from we be to able advantage benefit category.

button really growth. base, because pushed we share is terms that, of XX bit online our forward last Going months created best new have the fast a the in forward, a view

we predict the from go healthy will is, base of the don't XXs onwards the as view. medium-term growth that this so reversal, predict that And rate with we we mid

still will absolutely with deliver of Next we impacts worst strong solid, XX%, not, that are case, XX every have confident XX% yes. XX%, mid view in that. profitability, maybe year months rock is COVID But absolutely to the hopefully long-term growth we

Kimberly Greenberger

luck good and Fantastic here.

Operator

Matt next from J.P. come Morgan. your from will question And Boss

open. is line Your

Matt Boss

nice and on quarter. congrats a Thanks,

So -

Michael Kliger

Thank you.

Matt Boss

any to that's follow-up we or as seen two-year just that, notable step line, to just you in XQ last I Maybe have believe you And the date, the maybe two-year quarter fourth with fueled I maybe then quarter? in the rate be top basis that a improvement in And would any lower look implied elaborate embedded down in the on forecasts, that forward, would quarter growth and guidance? the XXX stacked that point that you've Michael, the stack takes revenue reopening? speak support drivers relative to puts could and helpful. fourth guess as despite think Just brick-and-mortar stacked that you've embedded you

Michael Kliger

the claiming our I want predictions we Sure. how But plays mean, know we be transparent always, not job. makes pandemic very exactly thinking still least as at out. the to and a tough future in

And be that it it forth. the improving the performance public, to in tie that XX% showed growth existing addition sentiment of that as of two-year which extra number expectation to new additional uptick spend rate. bridals also of in really the an customers, record another the So, saw QX vacations, of and average kind growth so drove be was we strong of back of back in being element the significant we clear customers, and a really

is as relaxing, component still the coming customer we a a but bit of view new this going The even So to that to clothing back buy of are definitely department this expect driver positive or of and so. lockdowns rates in trend customers that happen, needs there that closures positive is will that's a the sort and assume of and drive to as maybe shy stores vaccination to clearly something stores. some segments which continue occasions into feel tailwind be we continue that on online, more

fast we expect It So share in should that years. component But start bit a I two forward of than as have what called from. it, a seen, could is probably and over we the lower to is rate a still it a where base online trend last of a stay. to increase is

amounts but predicting strong see at what guidance believe to QX and XX%. a we spend, a And will lower to will year what slightly continue did of we new significant we of continue course, we significant QX, in implied full lower uptick is pace. believe guidance, So maybe our we new a to an of therefore, acquire at are to rate customers, which we terms super is, also in compared

Matt Boss

quarter? just in takes how gross on follow-up drivers the maybe then a any best of you and the of fourth just quarter? the development could gross think margin margin And break puts margin. Great. And just down third gross in to the Martin, the about or

Martin Beer

The Matt. IFRS. is slower related to seasonal also Sure, shifts Yeah. margin due bit a the completely between gross to quarters

on have with call margin nine-month said below the preceding fiscal the expect as and gross I year. We a the year least And development basis that in figures. are we full for stable target the clearly points fully section, at in XX previous the

Matt Boss

of luck. Best Great.

Operator

from And question will from next Oliver Chen Cowen. your come

Your open. line is

Oliver Chen

be talent, or Thank strategy for you What to us and you? may could not what's update existing China on there marketing the be sounds thank in you. your priorities positive the approach and pipeline you. terms very Hi, Also, key and from ahead US what on and could substantial. are and local if for know ahead with your you thoughts pretty of Michael, access different opportunity distribution? may awareness

Michael Kliger

explained previous I XX% terms Thanks, to in increasing in investment the the US we our adding of fully in the significant are in therefore, We Group significant Oliver. calls, market. headroom. resources sales. there's net of total And firmly do potential see Sure, believe share agree, current as US the with we

increase organizing new orchestrating available orchestrating US. local in the of one ground customer recently announced shoppers brand customers, of her role, on Mytheresa campaigns, leadership personal appointment is the to America of North and the local Heather and and events We to number President being awareness the as organizing of her our have task core

satisfaction to buy buy. customers We continue that with of traction high very customers see good very that rates

are customers the the Xst, June So, bottleneck is mean, join the I will onto - as focus will team she on. really up for her customer having on for global really time It And services, firmly in running time that top intimacy, she is a already how are what resources to of she product. also that's we now really opportunity calendar having of in we and can onto acquires And this particularly customer very the and platform. zone were of is customers proximity the in important to first starts up and are. terms that faster. can speed bringing what well excited we organize been those. believe a And high your those make terms year ground, out, in events able we velocity our you same reach about This always already of very the shift, course, but someone even secure she this stressed. aware ratchet and And putting also this you

So it's in the perfect timing events. as opportunity North stressed we can and relaxation US, as continuous as least America. is you organize big such our The of in is, really always the retreats in at pandemic China, there opportunity a

very is terms even even ground, probably market, is putting completely China. we there, It's ecosystem are, into calendar by to guidance earlier. of in the officials the course, have challenges of separated beginning this will the makes lower course, resources requirements in that different. in travel the take terms relaxation of bigger, by Mainland market we really restrictions of than on current for or are brand legislation, technology, awareness of We a Of the opportunity year clearly next which this that state of place, hope also our more still strong terms in the hampered very

same. route so haven't local continue to course, of anything increasing announce on invest. partnerships, mimicking we And the is our to of we, And while business the

in are just China. very we these Beijing, successful So a possible course, already organized because Mainland events week last VIC of had at event

are later the we on we a hard working is US. timing customer more than on what awareness, more So brand ground hard putting and for on establishing working currently The bit the we're tighter relationships. for resources do intimate

Oliver Chen

Okay, the thank impressive. And, Martin, you. momentum been has acquisition customer quite cost

As about you you we longer-term, you. and particularly time? see this events Thank do there, what evolve think over happening may this model as how

Martin Beer

clearly the quarters. Yeah, in Oliver. is I seen past mean, line what we've with this in

seen decreasing the marketing online acquisition in customer costs. we've costs to relation So

increase example, improving in quality we've underpenetrated, marketing other here cost the of marketing in to especially will calls, but and we on increasing but in acquisition, without the there other to regions mean also towards the brand that are So, previous desperately effective those customer also that past for said physical ratio. the as efficiencies that a in guide marketing be decreasing customer opportunity compromising business into we on efficiency the our we reinvest as I cost online than the which attracting, inherent as want awareness where is to the And do quarters full see in more we that and are ratio, stable the in the continue cost what activities, need model driven guide we a do know or marketing for US marketing weeks, events also year, And you are we quarter regions. we this fiscal even last we to the therefore, seen more ratio.

guidance online stable the to therefore into cost guide awareness ratio. brand marketing efficiencies towards a marketing is cost So overall reinvest campaigns, and the

Oliver Chen

Best quarter. thanks. regards. Great Very helpful,

Operator

Credit Michael Binetti question from Suisse. Your from come will next

is open. Your line

Michael Binetti

on congrats great quarter. guys, a Hey

is this about if X% X% you is think to year? know, - about still know, margins, but about. for in know, end there kind fourth think I'm questions you're EBITDA there's your that ask the you X% long-term as to continuing that guiding you please. high next want to here for about to rate reinvestment a to is that the the to Is follow-up, the right able reinvestment know, quarter have might high some for And - at of margins. range next you but, the it be speak right discrete the curious X% of Just you'd I year on then you're staying, almost guiding a margins, guidance, you that to as know X.X% though is XX% still rate so, And some end today, year? of seems like be your

Martin Beer

- Michael Yeah,

Michael Kliger

Martin, let me take that?

Martin Beer

marketing off much I able of year there's effects invest it's, led as end on definitely to top you as the in and campaigns cost And back kick like in can to adjusted would two it to then coming add. of said exactly mean, not just obviously will done. where the to being have fiscal we brand EBITDA you margin all, that I are this first Yeah, X.X%. awareness ratio, we that

and to to us. And that those we will, the strongly capture quarter, the costs increase for public corporate essence that And continue we this to compliance which right underpenetrated is, to the obviously, that in in developing with And customers in the expect are company the we to years see up this to have core next setup will we'll increase second SOX growth a governance the costs see following public where the we is market brands and capture. to ratio and so, and attract retain markets top want quarters. of quarters didn't setup ramp all company in and line

for there's this driven by fiscal to year. our a margin. also year regarding on nothing of the special guidance top situation our bit EBITDA So on for the obviously, COVID end full X.X% the is of the the worry about, But

going a have But the market. attractive obviously, is line highly we and guidance overall of on profitable continue business right the unique the the the about growth we be X% on give X% profitably, to share kept top that's professional to capturing want to adjusted this we adjusted that to us to to model our margin, target this to continue attracting in customers, also flexibility following to want grow also focus growing and X% the And margin, basis. we on trend quarters. very So why strongly X% diligent EBITDA EBITDA mid-term

Michael Binetti

expect to three quarter influenced in might but new the about fourth prior you And about I'm customer that and and you marry at tell within Matt new that know, you if customers up you into cohorts. guess acquired you that obviously, think hear. higher you already but in customer as new you've much and puts as the are XX% on with know, the That excited was know, quarters quarter? you know, to the you the the one-year think that - the repurchase where the rate, just got, have, something showing up fourth very earlier, so, quarter, it'd could asked about know, well you decelerate relative coming follow-up near-term trying the frequency? know, four rates, you can in is the modeling, conservative to revenue us, this you guidance commentary you you active you metrics about in hear, slow in two-year a your to please. I'm stack cohorts, said your what fourth of point, cohorts to to at the slowing know, we quarter, interesting thought in above that growth, you rates fourth be know, I think the are since takes I the,

Michael Kliger

truly we coming questions. of Sure, continue. will repurchase believe are insightful customers taking The amount Valid rate, we of absolutely. a in. new new conservative believe where is, the strong more better quality a view customers. area bit of and have We we acquired The performance

where if And growth bit in more rate is QX come you a and to not if view side, full year so is you last therefore, seen all in two-year result the how and on in of growth better, took quality, extraordinary bit this ongoing said, same the rightfully new with the a remain. all year the year, not is have that on of is we QX we the that your because you best conservative course line least implied is news the look that full next there the take if part many modeling, at those still effect quarter. fiscal We us so believe are more customers but and lockdowns and in of conservative after, the the driven will exceptional came business good year that this matching customers at in in closures. The as this news driving And even and we of QX, QX. is store will it's is as new that by that, customers massive have and influx rate,

Michael Binetti

Okay, thank much. you very

Operator

And from your Flavio Cereda from come next question will Jefferies.

Your line is open.

Flavio Cereda

Michael Good and afternoon, hello. Martin. Hi,

hires previous Number us? stage better questions a another touched US you as the it critical your the do course, to you you in better quick shipping Do were from Because question Europe? one, you in much mass me. that in with going mentioned the visibility US, for you was, as out on can company well? it get to have should you would opposed QX three So, - regarding local exceptional, be to of hub that new which US be. What share I the had be questions. it's end, need a - you have far Do that about answering Second we in investments release and idea, you whereby hoping today? the as in have how further was, at to

in - previously you sell You end, what the bought. you

it I keep of quarter basically the expected more demand? was bestsellers particular, stage some in expectations? ramping in just to you some how have number terms with up maybe question, a you menswear wondering, quick the perhaps to with with And relative if menswear three, replenish you. to is your up Thank in earlier in aggressively brands, where So was quarter perhaps than

Michael Kliger

Thank you, Flavio.

nothing three months. your but the to answer local on quick one, hub is the next Number So for questions. XX roadmap,

US. if think setting the in closer hub announce we're you close course, up additional an as to of in of will, getting terms that, may not we but So, we're as

usually effects, the a very the going you're unique sorry, to online So But bestsellers. the bestsellers, if opportunities, this of everyone still on very of Number in were is well, - because some difficult, ability three, is the channels had pandemic interested during start the let interested replan replenishing where The particularly the is as because suffered. while season lot further created in me it unusual very out. has pandemic know, is two, with - course, you retail roadmap. channels because

get there in hold perform to merchandise for well brands. availability. so as that of an And of the channels able additional imbalance was were not we stock did And

can that in us, model, as bought. in So current allowed say, because only sell rightfully our you model, what you you the

were thanks exposed able, exceptional also stock and And to to so up brand to. that we we relationships, our feed were the demands

question, third me? your sorry, just And remind

Flavio Cereda

Menswear up. was Menswear. ramping how that

Michael Kliger

at we Menswear. ongoing calendar year, And see strong the to we at we you the very continue first happy shared XX%. are Menswear, with performance. that end extremely we mean, with I of were growth. the

continue actually increase. total will business so to And we continue of that share the for that and believe to also expect we in kids businesses our these

Flavio Cereda

Super. Thank you very much.

Operator

Instructions] The next from UBS. from question Alexandra Steiger comes [Operator

open. is line Your

Alexandra Steiger

you great and much on my very questions, Thank for the congrats taking quarter.

more noticed pop as revenue top there's updated second, that and expansion follow-up right thoughts So any Thank segment year-over-year. strong as and some per category had now? beauty very in plus so was site you're then you the And some we maybe to customers drivers of Could top like share you attract earlier, focused XX% to Michael's up much. growth question your a further on unpack customer? also a of top you initiatives customer drive the also on the on

Michael Kliger

website and that Thank you, follow our you good see Alexandra to closely.

the in over I have is clearly limited buy see as unpack somewhat did a months. expected as customers, key neglected. the I spending customers, course, the to opportunities there categories top range occasions wardrobe they a see look the strong they usual, that the again reasons driver opportunities part, the per were not go is customer for of the very to invitations, But, year, of as the that to than bit ahead one that much average suffer the on spend if performance and opportunities. of that performance of On more we wider started of strong for of these that first and financially a they are our XX by events this last we top customer. And coming mean, vacation, buy also

QX beneficial events, do third is as Roger this I to the US, there, that personal and customers we customer the that. them are consumer really relationships that it's of footprint. one to for virtual were top improvement course, so Vivier, One driven we see, target that to course, always is, needs mean we I to plan And And And to of increase have stage. make the sentiment. satisfaction clearly key of component their fulfill mean levers in in an is ongoing And top we those is, the the business. one [indiscernible] relationship designers that shoppers. also the also our happy our join for component, very of drives able, had stated by a of customer

looking ticket as so to really events. did And organizing possible as industry. we provide and we to good this a But are amazing forward

invite a customers. in its that but Week the we and And current for York, So exhibition are announced have careful, we in we have have a And Paris London, before, ahead support then physical clearly, should Pompidou refurbishment. looking at September be to our based events, Centre cycle is up, will pipeline have should is are really closure current top again, least that there filling longer to in in New for giving we recently physical opportunities Paris, last which have of on based the shows. Paris Fashion view, view, we on Milan, the

up that. ramping So we also for

of new categories. In terms

do it whole We to review understand, is the as based right we are it. Mer, huge yes, customer say, revenue balloons our this No, and the opportunities they are accept the are category expansion from recently, this efforts if logic on this wider reason give This test this. concrete category, just the the launched our There's looking of us those because not all serving pursue more the in moment. some decision customers, and right spreadsheet in And to for, rightfully new a skincare driven presenting the shop collaboration needs and but of also definitely this and customer customers products been you're of to then is in luxury there's how adding play pop will gained. always starts us, on believes really Mytheresa Estee many in to ups, what at is is there the lifestyle. will by understanding And customers when to understand is ongoing the the the up high like a pop exactly we you Lauder, have these with products always we're opportunities. end said, with a category La Kilian what to our case

Alexandra Steiger

you. thank Great,

Operator

everyone This our for concludes today. today's end Q&A session you conference thank who And brings call. has of us for joined to us the today. This

You may disconnect. now

MYT Netherlands Parent B.V. (MYTE) 18 May 212021 Q3 Earnings call transcript