Business Wire

Q4, FY 2021 Results: Mytheresa Reports Another Quarter of Exceptional Net Sales Growth; Full FY 2021 Net Sales at €612.1 Million, a Growth of 36.2% Over Last Year and 61.5% Compared to Full FY 2019

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MYT Netherlands Parent B.V. (NYSE: MYTE) (“Mytheresa” or the “Company”), the parent company of Mytheresa Group GmbH, today announced financial results for its fourth quarter and full fiscal year 2021 ended June 30, 2021. The luxury multi-brand digital platform successfully continued to deliver strong growth driven by a fundamental change of consumer behavior, and a superior business model based on a sharp luxury customer focus and strong brand partnerships. Mytheresa was thus able to deliver outstanding growth while keeping its gross profit margins stable throughout the full FY 2021 and strengthening its bottom-line. The consistent growth is evidenced by the two-year growth rate in net sales of 60.5% in Q4 FY21 over Q4 FY19 and of 61.5% for full FY 2021 over FY 2019.

Michael Kliger, Chief Executive Officer of Mytheresa, said, "Despite a year of continued uncertainty and unprecedented changes, we again achieved strong new customer growth and delivered excellent results. We view this as a strong affirmation of our unique and superior value proposition to customers and brand partners at a global level. Mytheresa’s focus on curation, content and service drove exceptional top-line results beating our expectations, at stable gross profit margin and most importantly with extremely high customer satisfaction. All this strengthened our position as one of the world's leading digital platforms for luxury fashion. The shift of consumer demand to online in luxury has been significantly accelerated by the pandemic. We clearly believe this trend will continue in the post-pandemic world, probably reverting to the strong market growth rates we had seen before the pandemic started.”

Kliger continued, "Looking ahead, we will continue to deliver a superior customer experience and deepen our partnerships with the most coveted global brands. Given our strong financial position, excellent momentum with customer cohorts, and superior execution, we feel extremely confident to continue achieving strong results in fiscal year 2022.”

FINANCIAL HIGHLIGHTS FOR THE FOURTH QUARTER ENDED JUNE 30, 2021

  • Net sales increase of 36.1% year-over-year to €162.4 million
  • Strong Gross margin of 47.7%, as compared to 46.3% in the prior year period
  • Adjusted EBITDA of €11.2 million, as compared to €15.1 million in the prior year period, which was impacted by temporary cost saving measures put in place in Q4 FY 20 at the start of COVID, which were out of line with historic trends
  • Adjusted net income of €7.6 million, as compared to €9.4 million in the prior year period

FINANCIAL HIGHLIGHTS FOR THE TWELVE MONTHS ENDED JUNE 30, 2021

  • Net sales increase of 36.2% year-over-year to €612.1 million
  • LTM Active customer growth at 38.0% with 671,000 active customers
  • Stable gross margin of 46.9%, as compared to 46.7% in FY 2020
  • Adjusted EBITDA of €54.9 million, as compared to €35.4 million in the prior year period
  • Adjusted EBITDA margin of 9.0%, as compared to 7.9% in the prior year period
  • Adjusted operating income of €46.7 million, as compared to €27.5 million in the prior year period
  • Adjusted net income of €32.1 million, as compared to €19.3 million in the prior year period

RECENT BUSINESS HIGHLIGHTS

Continued Global Expansion:

  • Strong net sales growth across all geographies with +36.1% vs. Q4 FY20 and +60.5% vs. Q4 FY19
  • Outstanding net sales growth in the United States with +133.3% vs. Q4 FY20 as consumer demand jumped up
  • High-impact Top Customers events in Beijing at TRB Temple and in Paris in collaboration with the Centre Pompidou

Strong Brand Partnerships:

  • Exclusive capsule collections and pre-launches in collaboration with Alexander McQueen, Loro Piana, Jacquemus, Missoni, Brunello Cucinelli, Roger Vivier, Valentino, Christian Louboutin and many more
  • Curated Platform Model developed as an evolution of the partnership approach to truly integrate operations with major brands for scale, replenishment and capital efficiency
  • First beauty Pop-Up in collaboration with Estée Lauder Companies featuring La Mer, Frédéric Malle and By Killian

High-quality Customer Growth:

  • Growth of active customers by 38.0% year-over-year to 671,000 (LTM)
  • Record growth of first-time buyers in Q4 FY21 with 110,000 new customers
  • Continued positive repurchase rates of new customer cohorts acquired in Q2 FY21 in Q4 FY21, as compared to Q2 FY20 in Q4 FY20
  • Strong growth of number of Top Customers with 64% as well as average net sales per Top Customer in Q4 FY21
  • New partnership with Vestiaire Collective offering a unique resale service for Mytheresa’s high-end luxury customers

Consistent Strong Operational Performance:

  • Maintained business continuity across all operations with focus on health and well-being of all Mytheresa employees as top priority
  • Continued to have very high customer satisfaction with a Net Promoter Score of 85.6% in Q4 FY21
  • Achieved strong gross profit margin based on high full-price sales and delivered stable operational cost margin trends in Q4 FY21 and for the full FY 2021

BUSINESS OUTLOOK

For the full fiscal year ending June 30, 2022, we expect:

  • GMV in the range of €750 million to €770 million, representing a 22% to 25% growth
  • Active customer growth of 22% to 25%, enlarging the customer base to 820,000 to 845,000 active customers
  • Net Sales at €680 million to €700 million
  • Gross Profit at €345 million to €355 million, representing a 21% to 24% growth
  • Adjusted EBITDA margin at the upper half of the long-term range of 7% to 9%

The foregoing forward-looking statements reflect Mytheresa’s expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Gross Merchandise Value (GMV) means the total Euro value of orders processed. GMV is inclusive of merchandise value, shipping and duty. It is net of returns, value added taxes and cancellations. We view GMV as an operating metric. Mytheresa does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.

CONFERENCE CALL AND WEBCAST INFORMATION

Mytheresa will host a conference call to discuss its fourth quarter fiscal 2021 financial results on September 14, 2021 at 8:00am Eastern Time. Those wishing to participate via webcast should access the call through Mytheresa’s Investor Relations website at https://investors.mytheresa.com. Those wishing to participate via the telephone may dial in at +1 (833) 979-2860 (USA) or +1 (236) 714-2917 (International). A replay will be available via webcast through Mytheresa’s Investor Relations website. The telephone replay will be available from 11:00am Eastern Time on September 14, 2021, through September 21, 2021, by dialing +1 (800) 585-8367 (USA) or +1 (416) 621-4642 (International). The replay passcode will be 5598406.

FORWARD LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to the impact of the COVID-19 global pandemic; future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements are only predictions. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below.

We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.

You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made.

Further information on these and other factors that could affect our financial results is included in filings we make with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in our final prospectus under Rule 424(b) filed with the SEC on January 22, 2021 in connection with our IPO and 6-K (reporting our quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

ABOUT NON-IFRS FINANCIAL MEASURES

We review a number of operating and financial metrics, including the following business and non-IFRS metrics, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. We present Adjusted EBITDA, Adjusted Operating Income and Adjusted Net Income because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance. Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income have limitations, because they exclude certain types of expenses. We use Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income as supplemental information only. You are encouraged to evaluate each adjustment and the reasons we consider it appropriate for supplemental analysis.

Our non-IFRS financial measures include:

  • Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, IPO preparation and transaction costs and share-based compensation expenses.
  • Adjusted Operating Income is a non-IFRS financial measure that we calculate as operating income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, any IPO preparation and transaction costs and share-based compensation expenses.
  • Adjusted Net Income is a non-IFRS financial measure that we calculate as net income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us, finance expenses on our Shareholder Loans, IPO preparation and transaction costs, share-based compensation expenses and related income tax effects.

We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.

ABOUT MYTHERESA
Mytheresa is one of the leading global luxury fashion e-commerce platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear and kidswear. The highly curated edit of over 200 brands focuses on true luxury brands such as Bottega Veneta, Burberry, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations.

For more information, please visit https://investors.mytheresa.com/.

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

Three Months Ended

Twelve Months Ended

June 30, 2020

June 30, 2021

Change
in % / BPs

June 30, 2020

June 30, 2021

Change
in % / BPs

(in millions) (unaudited)

Active customer

(LTM in thousands)

486

671

38.0%

486

671

38.0%

Total orders shipped (LTM in thousands)

1,092

1,505

37.9%

1,092

1,505

37.9%

Average order value (LTM)

600

595

(0.9%)

600

595

(0.9%)

Net sales

€ 119.3

€ 162.4

36.1%

€ 449.5

€ 612.1

36.2%

Gross profit

€ 55.3

€ 77.4

40.1%

€ 209.9

€ 287.0

36.7%

Gross profit margin(1)

46.3%

47.7%

140 BPs

46.7%

46.9%

20 BPs

Adjusted EBITDA(2)

€ 15.1

€ 11.2

(25.5%)

€ 35.4

€ 54.9

55.2%

Adjusted EBITDA margin(1)

12.6%

6.9%

(570 BPs)

7.9%

9.0%

110 BPs

Adjusted Operating Income(2)

€ 12.9

€ 9.1

(29.6%)

€ 27.5

€ 46.7

69.8%

Adjusted Operating Income margin(1)

10.8%

5.6%

(520 BPs)

6.1%

7.6%

150 BPs

Adjusted Net Income(2)

€ 9.4

€ 7.6

(19.3%)

€ 19.3

€ 32.1

66.5%

Adjusted Net Income margin(1)

7.9%

4.7%

(320 BPs)

4.3%

5.2%

90 BPs

(1) As a percentage of net sales.
(2) EBITDA, adjusted EBITDA, adjusted Operating Income, adjusted net income are measures not defined under IFRS. For further information about how we calculate these measures and limitations of its use, see below.

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

The following are reconciliations of Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income to their most directly comparable IFRS financial measures:

Three Months Ended

Twelve Months Ended

June 30, 2020

June 30, 2021

Change
in %

June 30, 2020

June 30, 2021

Change
in %

(in millions) (unaudited)

Net income

€ 11.1

€ (8.0)

(172.2%)

€ 6.4

€ (32.6)

(613.3%)

Finance expenses, net

€ (0.4)

€ (0.3)

(16.3%)

€ 11.1

€ (15.1)

(235.7%)

Income tax expense

€ 2.8

€ 2.1

(25.5%)

€ 3.4

€ 15.5

351.5%

Depreciation and amortization

€ 2.1

€ 2.1

(0.7%)

€ 7.9

€ 8.2

4.4%

thereof depreciation of right-

of use assets

€ 1.4

€ 1.3

(5.5%)

€ 5.1

€ 5.2

2.1%

EBITDA

€ 15.6

€ (4.1)

(126.4%)

€ 28.8

€ (23.9)

(183.1%)

U.S. sales tax(1)

€ (0.8)

€ 0.0

(100.0%)

€ 1.3

€ 0.0

(100.0%)

IPO preparation and transaction

costs(2)

€ 0.2

€ 0.0

(100.0%)

€ 5.2

€ 7.0

34.1%

IPO-related share-based

compensation(3)

€ 0.0

€ 15.3

N/A

€ 0.1

€ 71.9

N/A

Adjusted EBITDA

€ 15.1

€ 11.2

(25.5%)

€ 35.4

€ 54.9

55.2%

Three Months Ended

Twelve Months Ended

June 30, 2020

June 30, 2021

Change
in %

June 30, 2020

June 30, 2021

Change
in %

(in millions) (unaudited)

Operating Income

€ 13.5

€ (6.2)

(146.4%)

€ 20.9

€ (32.2)

(253.8%)

U.S. sales tax(1)

€ (0.8)

€ 0.0

(100.0%)

€ 1.3

€ 0.0

(100.0%)

IPO preparation and transaction

costs(2)

€ 0.2

€ 0.0

(100.0%)

€ 5.2

€ 7.0

34.1%

IPO-related share-based

compensation(3)

€ 0.0

€ 15.3

N/A

€ 0.1

€ 71.9

N/A

Adjusted Operating Income

€ 12.9

€ 9.1

(29.6%)

€ 27.5

€ 46.7

69.8%

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

Three Months Ended

Twelve Months Ended

June 30, 2020

June 30, 2021

Change
in %

June 30, 2020

June 30, 2021

Change
in %

(in millions) (unaudited)

Net Income

€ 11.1

€ (8.0)

(172.2%)

€ 6.4

€ (32.6)

(613.3%)

U.S. sales tax(1)

€ (0.8)

€ 0.0

(100.0%)

€ 1.3

€ 0.0

(100.0%)

IPO preparation and transaction

costs(2)

€ 0.2

€ 0.0

(100.0%)

€ 5.2

€ 7.0

34.1%

IPO-related share-based

compensation (3)

€ 0.0

€ 15.3

N/A

€ 0.1

€ 71.9

N/A

Finance expenses on shareholder

loans (4)

€ (1.4)

€ (0.3)

(80.3%)

€ 9.6

€ (16.2)

(268.2%)

Income tax effect(5)

€ 0.2

€ 0.5

107.6%

€ (3.3)

€ 2.1

(162.7%)

Adjusted Net Income

€ 9.4

€ 7.6

(19.3%)

€ 19.3

€ 32.1

66.5%

(1) Represents expenses related to sales tax liabilities temporarily borne by us through the fourth quarter of fiscal 2020 in the United States. We temporarily incurred sales tax related liabilities on customer purchases in the United States because we were not able to charge our customers for these amounts at the point of sale under our previous IT configuration. Due to upgrades in our IT infrastructure during the fourth quarter of fiscal 2020, we no longer incur these expenses, as we charge the applicable U.S. sales tax directly to our customers.
(2) Represents non-recurring professional fees, including consulting, legal and accounting fees, related to this offering, which are classified within selling, general and administrative expenses.
(3) In FY21, with the effective IPO, certain key management personnel received a one-time granted share-based compensation with €3.2 million other long-term plans canceled. In FY20, certain key management personnel received share-based compensation from our ultimate parent. We do not consider these expenses to be indicative of our core operating performance.
(4) Our Adjusted Net Income excludes finance expenses associated with our Shareholder Loans, which we do not consider to be indicative of our core performance. We did not receive any cash proceeds under the Shareholder Loans, which originated as part of the Neiman Marcus acquisition in 2014. In January 2021, we repaid our Shareholder Loans (principal plus outstanding interest) using a portion of the net proceeds from our initial public offering.
(5) Reflects adjustments to historical income tax expense to reflect changes in taxable income for each of the periods presented due to changes in finance expenses related to the Shareholder Loans, assuming a statutory tax rate of 27.8%.

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Profit and Comprehensive Income
(Amounts in € thousands, except share and per share data)

Three Months Ended

Twelve Months Ended

(in € thousands)

June 30, 2020

June 30, 2021

June 30, 2020

June 30, 2021

Net sales

119,271

162,368

449,487

612,096

Cost of sales, exclusive of depreciation and amortization

(63,993)

(84,939)

(239,546)

(325,053)

Gross profit

55,278

77,429

209,941

287,043

Shipping and payment cost

(12,383)

(19,535)

(52,857)

(71,466)

Marketing expenses

(13,198)

(22,326)

(62,507)

(81,558)

Selling, general and administrative expenses

(14,632)

(39,449)

(66,427)

(157,151)

Depreciation and amortization

(2,140)

(2,125)

(7,885)

(8,232)

Other expense (income), net

525

(231)

645

(799)

Operating income

13,450

(6,237)

20,911

(32,162)

Finance (expense) income, net

387

324

(11,119)

15,091

Income (loss) before income taxes

13,837

(5,913)

9,791

(17,070)

Income tax (expense) income

(2,777)

(2,070)

(3,441)

(15,534)

Net income (loss)

11,060

(7,983)

6,350

(32,604)

Cash Flow Hedge

335

43

-

-

Income Taxes related to Cash Flow Hedge

(92)

20

-

-

Foreign currency translation

(14)

-

4,730

-

Other comprehensive income (loss)

229

63

4,730

-

Comprehensive income (loss)

11,289

(7,920)

11,080

(32,604)

Basic and diluted earnings per share

0.16

(0.09)

0.09

(0.42)

Weighted average ordinary shares outstanding (basic and diluted)

70,190,687

86,321,840

70,190,687

77,360,088

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Financial Position

(Amounts in € thousands)

(in € thousands)

June 30, 2020

June 30, 2021

Assets

Non-current assets

Intangible assets and goodwill

154,966

155,611

Property and equipment, net

9,570

8,810

Right-of-use assets

19,001

14,009

Total non-current assets

183,537

178,430

Current assets

Inventories

169,131

247,054

Trade and other receivables

4,815

5,030

Other assets

18,950

14,667

Cash and cash equivalents

9,367

76,760

Total current assets

202,263

343,510

Total assets

385,800

521,941

Shareholders’ equity and liabilities

Subscribed capital

1

1

Capital reserve

91,008

444,951

Accumulated Deficit

(28,234)

(60,837)

Other comprehensive income

1,602

1,602

Total shareholders’ equity

64,377

385,718

Non-current liabilities

Shareholder Loans

191,194

-

Other liabilities

5,905

-

Tax liabilities

3,853

14,293

Provisions

582

717

Lease liabilities

13,928

8,786

Deferred tax liabilities, net

1,130

2,308

Total non-current liabilities

216,592

26,104

Current liabilities

Liabilities to banks

10,000

-

Lease liabilities

5,787

5,361

Contract liabilities

6,758

10,975

Trade and other payables

36,158

43,558

Other liabilities

46,128

50,225

Total current liabilities

104,831

110,118

Total liabilities

321,422

136,223

Total shareholders’ equity and liabilities

385,800

521,941

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Changes in Equity
(Amounts in € thousands)

(in € thousands)

Subscribed capital

Capital reserve

Accumulated deficit

Foreign currency translation reserve

Total shareholders’ equity

Balance as of July 1, 2019

72

148,960

(34,584)

(3,128)

111,320

Net income

-

-

6,350

-

6,350

Other comprehensive income

-

-

-

4,730

4,730

Comprehensive income

-

-

6,350

4,730

11,080

Distribution

-

(191,207)

-

-

(191,207)

Contribution

-

96,938

-

-

96,938

Legal Reorganization

(71)

36,252

-

-

36,180

Share-based compensation

-

65

-

-

65

Balance as of June 30, 2020

1

91,008

(28,234)

1,602

64,377

Balance as of July 1, 2020

1

91,008

(28,234)

1,602

64,377

Net loss

-

-

(32,604)

-

(32,604)

Other comprehensive income

-

-

-

-

-

Comprehensive loss

-

-

(32,604)

-

(32,604)

Capital increase - initial public offering

-

283,224

-

-

283,224

IPO related transaction costs

-

(4,550)

-

-

(4,550)

Share-based compensation

-

75,270

-

-

75,270

Balance as of June 30, 2021

1

444,951

(60,837)

1,602

385,718

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in € thousands)

Year ended June 30,

(in € thousands)

2020

2021

Net income (loss)

6,350

(32,604)

Adjustments for

Depreciation and amortization

7,885

8,232

Finance (income) expense, net

11,119

(15,091)

Share-based compensation

65

75,270

Income tax expense

3,441

15,534

Change in operating assets and liabilities

(Decrease) increase in provisions

(200)

135

Increase in inventories

(33,097)

(77,922)

(Increase) decrease in trade and other receivables

833

(215)

Decrease (increase) in other assets

(10,510)

4,281

(Decrease) increase in other liabilities

17,894

(1,809)

Increase in contract liabilities

2,210

4,217

Increase (decrease) in trade and other payables

6,745

7,400

Income taxes paid

(2,176)

(3,915)

Net cash provided by (used in) operating activities

10,559

(16,486)

Expenditure for property and equipment and intangible assets

(2,420)

(2,934)

Proceeds from sale of property and equipment

-

40

Net cash (used in) investing activities

(2,420)

(2,894)

Interest paid

(2,973)

(4,257)

Proceeds from bank liabilities

90,750

64,990

Repayment of liabilities from banks

(84,399)

(74,990)

Repayment of Shareholder loan

-

(171,827)

Proceeds from capital increase

-

283,224

IPO preparation and transaction costs

-

(4,550)

Lease payments

(4,256)

(5,800)

Net cash (used in) provided by financing activities

(878)

86,790

Net increase (decrease) in cash and cash equivalents

7,261

67,411

Cash and cash equivalents at the beginning of the period

2,120

9,367

Effects of exchange rate changes on cash and cash equivalents

(14)

(18)

Cash and cash equivalents at end of the period

9,367

76,760

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Contact information

Investor Relations Contacts
Solebury Trout
Ed Yuen / Maria Lycouris
+1-800-929-7167
investors@mytheresa.com

Media Contacts for public relations
Mytheresa.com GmbH
Sandra Romano
mobile: +49 152 54725178
phone: +49 89 127695-236
email: sandra.romano@mytheresa.com

Media Contacts for business press
Mytheresa.com GmbH
Alberto Fragoso
mobile: +49 152 38297355
phone: +49 89 127695-1358
email: alberto.fragoso@mytheresa.com

Edelman USA
Ted McHugh / Nicole Briguet
phone: +1 201 341-0211 / +1 646 750-7235
email: ted.mchugh@edelman.com
email: nicole.briguet@edelman.com

Edelman Germany, Austria, Switzerland
Ruediger Assion
mobile: +49 162 4909624
phone: +49 22182828111
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EngageSmart Announces Pricing of Initial Public Offering23.9.2021 02:48:00 CEST | Press release

EngageSmart, Inc., a leading provider of vertically-tailored customer engagement software and integrated payments solutions, today announced the pricing of its initial public offering of 14,550,000 shares of its common stock at a price of $26.00 per share. Of the offered shares, 13,000,000 shares are being offered by EngageSmart and 1,550,000 shares are being offered by certain of EngageSmart’s existing stockholders. In addition, the underwriters will have a 30-day option to purchase from EngageSmart and the selling stockholders up to an additional 2,182,500 shares of their common stock at the initial public offering price, less underwriting discounts and commissions. EngageSmart will not receive any proceeds from the sale of shares of common stock by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on Thursday, September 23, 2021, under the ticker symbol “ESMT.” The offering is expected to close on September 27, 2021, subject to customa

InvestaX Gets Closer to Tokenizing the World with MAS Fintech Sandbox23.9.2021 02:00:00 CEST | Press release

InvestaX (IC SG Pte Ltd) launches exchange in the Monetary Authority of Singapore (MAS) sandbox, providing key infrastructure for bringing liquidity to digital securities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005600/en/ Next Generation Digital Assets (Photo: Business Wire) InvestaX is a Singapore-headquartered, MAS-licensed* online investment and trading platform for Digital Securities (DSO) and Security Tokens (STO) of global private markets deals, focusing on exciting growth industries including crypto, gaming, blockchain, digital assets, venture, private equity and real estate. InvestaX, announces entry in the sandbox for its exchange, and now provides a one-stop shop solution for the issuance and trading of digital securities, for global products and global investors. Targeting the $8T USD tokenization of the private markets, InvestaX is built with open infrastructure for scalability and interoperability,

AWS to Open Data Centers in New Zealand23.9.2021 00:52:00 CEST | Press release

Today, Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced plans to open an infrastructure region in Aotearoa New Zealand in 2024. The new AWS Asia Pacific (Auckland) Region will consist of three Availability Zones (AZs) and join the existing 81 Availability Zones across 25 geographic AWS Regions at launch. The Region will be owned and operated by a local AWS entity in New Zealand. Globally, AWS has announced plans for 24 more Availability Zones and eight more AWS Regions in Australia, India, Indonesia, Israel, Spain, Switzerland, the United Arab Emirates, and the new AWS Region in New Zealand. The new AWS Asia Pacific (Auckland) Region will enable even more developers, startups, and enterprises as well as government, education, and nonprofit organizations to run their applications and serve end users from data centers located in New Zealand, ensuring that customers who want to keep their data in New Zealand are able to do so. AWS also released an economic

Procore to Acquire Levelset to Simplify Lien Management Workflows for Construction22.9.2021 22:05:00 CEST | Press release

Procore Technologies, Inc., (NYSE: PCOR), a leading provider of construction management software, has signed a definitive agreement to acquire Levelset. This acquisition will add lien rights management to the Procore platform, enabling Procore to manage complex compliance workflows and improve the payment process in construction. It also presents future growth opportunities for Procore, including capitalizing on the companies’ complementary data assets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005931/en/ Burdensome compliance workflows contribute to the construction industry’s median of 90 days sales outstanding and 74 days payable outstanding, the slowest of all industries surveyed across the globe. (Graphic: Business Wire) Procore Founder and CEO Tooey Courtemanche said, “Construction work is hard enough — getting paid shouldn’t be. Levelset helps the construction industry get paid faster, and their offering wi

Leaders in Cloud Adoption Approach Cloud Differently and Achieve 10x Greater ROI, Says Research by Wipro FullStride Cloud Services22.9.2021 18:24:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today released a report indicating that leaders in cloud adoption approach their cloud journey differently than beginners, enabling them to achieve a 10x greater annualized return on investment. Wipro’s report, “Making Business Thrive: A Cloud Leader Roadmap for Achieving 10x ROI,” outlines these best practices for enterprises beginning their cloud journey or seeking to accelerate their results. The report also identifies dozens of key cloud-adoption metrics for multiple industries and countries. Wipro FullStride Cloud Services developed the report based on a survey of 1,300 global C-level executives and key decision-makers from 11 industries and six countries (see “Methodology” below). Wipro considered leaders to be the top 19% of respondents based on cloud maturity, while beginners represented the lowest 32%; this was not based on revenue. Thi

Nathan's Famous Continues International Expansion with European Push to Offer Hot Dogs in France22.9.2021 17:57:00 CEST | Press release

Nathan's Famous, Inc., the American tradition serving New York favorites for more than 100 years, announces a new collaboration with Tommy's Diner, a 50's throwback American diner based in France, to offer its hot dogs in all locations across the country, making it the first time Nathan's Famous is served in France. This relationship continues Nathan's Famous growth in Europe and beyond. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005823/en/ Nathan's Famous Menu. (Photo: Business Wire) "Nathan's Famous is known the world over, which is why we've had such great success in recent years growing in the Middle East, Asia, and Great Britain," states James Walker, Senior Vice President, Restaurants. "This new relationship with Tommy's is a big step for us as we look to see that growth spread throughout Europe, and we're excited that they are our first French outpost and will be one of the first internationally to have our

IHMA Opens Microbiology Reference Laboratory in Shanghai, China to Further Support Global Anti-Infective Product Discovery and Development22.9.2021 16:30:00 CEST | Press release

IHMA has opened a microbiology reference laboratory in Shanghai, China in February of 2021. This facility will join IHMA locations in the USA, Switzerland and India to allow the company to provide more robust global support for anti-infective product discovery and development. The China facility will provide microbiology testing to support profiling of new antimicrobial products, antimicrobial resistance surveillance, molecular characterization of resistant organisms, and serve as a central laboratory for clinical trials conducted in China. “We have been working for almost 30 years to maximize our in vitro support for clients who are developing anti-infective products globally. Our facility in China will greatly enhance that effort and support clients wishing to conduct studies in this important market,” said Jack L. Johnson, President/CEO of IHMA. About IHMA: As the leading global microbiology service provider to the biopharmaceutical industry, IHMA utilizes its extensive laboratory a