The parent company of German based online luxury retailer Mytheresa Group known as MYT Netherlands Parent B.V has filed for an initial public offering to be listed in United States financial markets.
Mytheresa sells clothes from world leading fashion brands including Burberry, Prada and Gucci. In the third quarter results for the period ending September 30, the company reported net sales of 126.4 million euros ($154.32 million).
Online luxury shopping has been booming following an increase in online shopping which has been thriving due movement restrictions imposed across the world to curtail spread of the killer virus.
MYT Netherlands said it will be applying to secure the American depositary shares (ADSs) listed on the New York Stock Exchange under the ticker symbol ‘MYTE’.
Additionally, MYT said it had picked UBS Investment Bank and JPMorgan Chase & Co (JPM) to act as its underwriters in its initial public offering.