MyTheresa sale process may be concluded in two to three months; private equity most likely buyer - report (translated)
27 MAY 2019
The sale process for MyTheresa, the German luxury fashion e-commerce platform, could be completed in the next two to three months, Handelsblatt reported.
Citing unnamed company sources, the German daily said MyTheresa's owner, the Dallas, Texas-based department store retailer Neiman Marcus, expects to complete the project in this timeframe and could decide to keep the company, or present a new owner, which the report said is a more probable outcome.
A sale could be worth considerably more than EUR 450m, the report stated. The report said MyTheresa is unlikely to interest direct competitors such as Net-a-porter, Farfetch, Matchesfashion or Luisaviaroma. MyTheresa would enable Alibaba’s Tmall Luxury access to the European market, the report continued.
The report said private equity companies are the most likely to acquire the company. One interested party is said to consider the price expectations to be too high, the report added.