MUNICH/FRANKFURT (Reuters) – the Online luxury fashion retailer MyTheresa, plans to list on the New York Stock Exchange, taking advantage of a robust stock market, people close to the matter said.
The owner of Neiman-Marcus, is working with Morgan Stanley on the planned listing, which would take place from April onwards will be added.
The buy-out, fund of Ares, who is the owner of Neiman-Marcus, and Morgan Stanley declined to comment, as MyTheresa and was not available for comment.
The company, which sells the garments from about 250 of the world’s most covetable fashion brands, such as Prada, Gucci, Burberry, and Dolce&Gabbana, and can be estimated to be approximately $500 million in a potential deal, the sources said.
MyTheresa peers, such as Zalando, a Global, Fashion, and Asos, are stated in Europe, but the company is still choosing a position in New York, New York, the sources said, the following are also online fashion retailers, Farfetch, and as The RealReal.
The pair had a successful market debut, but since then, I have struggled with both companies’ stock is trading below its IPO price.
The IPO would be the latest example of a private-equity firm run by a better performance of the retail from the struggling parent company.
BC ners is the last year of its successful, Tough, Inc is the trademark of PetSmart, as TPG is owned by the US clothing chain J Crew, and is currently exploring an initial public OFFERING of the up-market, Madewell brand.
Fashion retailers Susanne and Christoph Botschen in 1987 opened a store called Theresa in Munich, Germany, which is still in existence. In 2006, the company launched the online shop MyTheresa. Neiman Marcus bought by the company in the year 2014.
Neiman Marcus said in April that the high levels of debt, and it was exploring strategic alternatives with regards to MyTheresa.
Ares and the Canada Pension Plan Investment Board, have owned Neiman Marcus since 2013.
For the nine-month period ended on March 31, 2019, MyTheresa posted operating earnings before interest, taxes, depreciation, amortization, and return on investment of 15.2 million euros on a turnover of 272 million euros, according to a filing by Neiman Marcus.
According to a regulatory filing in Germany, MyTheresa has reported a net profit of € 21 million on a turnover of 370 million euros in fiscal 2018/19.
Additional reporting by Joshua Franklin in New York; Editing by Kirsten Donovan