MYT Netherlands, a global luxury fashion e-commerce platform, announced terms for its IPO on Tuesday.
The Munich, Germany-based company plans to raise $266 million by offering 15.6 million ADSs at a price range of $16 to $18. At the midpoint of the proposed range, MYT Netherlands would command a market value of $1.5 billion.
Mytheresa, which launched online in 2006, is a leading Europe-based luxury fashion retailer with curated offerings from more than 200 of the world’s most recognized luxury brands. In the FY20, Mytheresa served customers in 133 countries and posted an average order value of €600, which the company states is one of the highest in the industry.
MYT Netherlands was founded in 2006 and booked $579 million in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol MYTE. Morgan Stanley, J.P. Morgan, Credit Suisse, UBS Investment Bank, Jefferies, and Cowen are the joint bookrunners on the deal. It is expected to price during the week of January 18, 2021.
