September 19, 2014
Consumer, Retail, E-commerce and Leisure, Digital Media and Media
Sale of mytheresa
GCA Altium, together with Goldman Sachs, advised mytheresa.com’s founders and owners, Christoph and Susanne Botschen as well as Acton Capital Partners, on the sale of global online luxury business mytheresa.com and the THERESA flagship store in Munich to the US-based Neiman Marcus Group (NMG). GCA Altium previously advised the founders on the initial investment of minority investor Acton Capital.
The sale of mytheresa.com to NMG marks one of the biggest transactions in the luxury retail segment in the DACH region to date.
NMG’s operations include retail stores Neiman Marcus, Bergdorf Goodman and Last Call as well as online direct to consumer operations under the Neiman Marcus, Horchow, CUSP, Last Call and Bergdorf Goodman brand names.
Based in Munich, Germany, mytheresa.com was founded in 2006 as a way to expand the reach of the THERESA store in Munich. THERESA has long been established as the premier luxury multi-brand fashion store in Munich since its founding in 1987. From its base in Munich, mytheresa.com ships to over 120 countries globally with a highly localized approach and more than two-thirds of the company’s revenue comes from outside of Germany.
mytheresa.com’s strength in the European, Middle East, and Asia markets complements NMG’s core business in The United States. mytheresa.com’s key categories are women’s ready to wear, shoes, handbags and accessories. The mytheresa.com online store and THERESA will be run as an independent subsidiary of NMG based in Munich.